home
buyer’s guide
Guide for future homeowners
HOME SWEET HOME
Are you planning to move into your very first home soon, or are you
planning to move to a new house?
Buying a house is an important decision. It’s something we do only a
few times in our lifetime. And it has many daily and long-term effects on
our life, which is why it's important to prepare carefully. At the Caisses
populaires acadiennes, we understand that.
Take the time to consult this simple and easy-to-use guide and, if you
like, talk to your caisse advisor. Hold on to this guide. It's your key to all
the essential information you’ll need to take you to the front door of
your new home – in five steps.
table of contents
STEP 1
The budget and calculation tools
2
STEP 2
Choosing your home
6
STEP 3
Your allies
9
STEP 4
The mortgage loan
11
STEP 5
The purchase offer
16
APPENDIX 1 Helpfull addresses
18
APPENDIX 2 Future homeowner’s checklist
19
At the time of printing, all of the following information was correct. Certain conditions apply. Product features are subject to
change without prior notice. Check with your advisor.
1.
the budget
and calculation tools
THE BUDGET
The budget is a crucial step towards establishing the limits for your home purchasing project. A careful
evaluation of your current finances, short-term and long-term financial capability, needs and priorities
will save you a lot of stress and give you the peace of mind to contemplate your purchase.
This first section will give you a clear picture of all the financial aspects of buying a home: down
payments, start-up costs and budget calculation. Visit www.acadie.com, where you will find several
calculators to help you determine the overall budget for your project. Don't hesitate to ask your
advisor for help because that is the key person to guide you through the entire process.
Once you finish your calculations, your advisor can sit down with you, analyze the results and perhaps
grant you a pre-arranged mortgage loan – an evaluation that determines the maximum financing
amount you're eligible for according to your financial situation. This can speed up and facilitate
negotiations with the seller or real estate broker.
THE DOWNPAYMENT: INVESTING IN YOUR PROJECT
When you get a mortgage loan, you are obligated under the Bank Act to invest a sum of money from
your personal assets. This is called the downpayment. The downpayment can come from liquid assets
taken from your savings accounts, deposit certificates, savings bonds, mutual funds or RRSPs. Cash
donations, cashback incentives from lenders and personal loans are also eligible under certain
conditions. Moreover, if you own the land on which you'd like to build a home, its value can be used
as downpayment. Lastly, if you're building your own home with the help of family and friends, your
caisse could use part of the value of this labour, called “sweat equity”, to reduce the amount needed
for your downpayment.
2
HOW MUCH TO INVEST?
The bigger your downpayment, the less you'll need to borrow. And the less interest you'll pay!
Generally, the minimum required downpayment is 20% of the property’s cost or market value,
whichever is lower.
It is, however, possible to borrow even if you don't have the minimum downpayment. If you need a
mortgage worth more than 80% of your property's purchase price, you are legally required to have
your loan insured by the Canada Mortgage and Housing Corporation (CMHC). In this case, your
downpayment could be from 5 to 20% of your property's value.*
The mortgage insurance premium varies in relation to the downpayment and must be either paid at
the time of purchase or added to the loan amount. It represents from 0.5% to 2.9% of the amount of
the mortgage loan – depending on the size of your downpayment – is nonrefundable and is usually
included in your mortgage payments to the caisse.
To find out more about the conditions specific to your mortgage insurance, consult your advisor.
LEVERAGING YOUR RRSP TO BUY A HOME
Thanks to the government Home Buyers' Plan (HBP), you can use your RRSP (Registered Retirement
Savings Plan) as a downpayment, reducing your mortgage payments, and mortgage insurance if any.
The HBP allows you to withdraw up to $25,000 from your RRSP – that's $50,000 per couple – for the
1
purchase of a new or existing residence. You won't pay any taxes on the amount , and you'll have
15 years to pay it back, interest-free.
To be eligible for the HBP, neither you nor your spouse can have been the owner of a residence during
the year in which you withdraw funds from your RRSP or over the four previous calendar years. Also, to
take advantage of the HBP more than once, you must have fully reimbursed the previous HBP within
the agreed time limit.
* As of July 9, 2012 the minimum downpayment for refinancing a mortgage is 20%.
1 If the minimum annual payments are not made, the difference between the amount paid and the minimum amount
required is taxable.
3
USING THE HBP WITHOUT RRSP’S
Even if you don't have an RRSP, you can take advantage of the HBP. Here's how:
n Borrow the amount corresponding to your maximum RRSP contribution from your caisse
n Deposit it into an RRSP for at least 90 days
n Withdraw that non-taxable amount from your RRSP and apply it against the reimbursement of your
loan
n Use your income tax refund as a downpayment for the acquisition of a residence
n Then take up to 15 years to re-deposit the funds in your RRSP
SYSTEMATIC SAVING TO ACCUMULATE MONEY
Is the purchase of a home a long or medium-term project for you? The Caisses populaires
acadiennes Systematic Savings is an excellent way to save up for a downpayment. At the
intervals you request, a given amount is withdrawn from your Personal Chequing Account
and deposited into your Systematic Savings Account. This way, you get the gain without
the pain!
ANTICIPATE START-UP COSTS
You need to put aside the initial downpayment and at least $5,000 (this amount varies according to
the value of your property) to cover certain start-up costs. See below for examples.
INSPECTION FEES
Before buying an existing home, have it inspected by a specialist. A detailed report will tell you
whether the house requires repairs in the short or long term, and inform you about the existence of any
detectable hidden defects.
APPRAISAL FEES
Your caisse will need to know the market value of the property you wish to acquire. An expert – usually
a chartered appraiser – will perform an inspection and issue an appraisal report of your property’s
market value.
LAWYERS
The preparation, signing and registering of various legal documents related to the purchase of your
property calls for the expertise of a lawyer, whose fees are your responsibility. It's a good idea to ask for
several estimates before making a decision, because fees vary considerably from one lawyer to
another. Your caisse can refer you to a lawyer, if you wish.
Furthermore, upon closing the sale at the lawyer's office, you'll have to pay additional fees and
adjustment costs. These include property taxes, hydro bills, and condominium charges (if applicable).
The lawyer is responsible for making these calculations based on the date of closing.
4
OTHER FEES
n Home insurance premium for a new property (usually higher than when you're renting)
n Mortgage insurance premiums
n Property survey fees (if required)
n Sales tax (for new homes)
Don't forget you'll have moving and public utility hook-up costs. You also may want to decorate,
buy new appliances and furnish your house, patio or garden. It's always better to look ahead,
and perhaps consult with your advisor at the caisse as to whether a line of credit would be a
good idea.
CRAZY FOR CALCULATIONS?
Visit www.acadie.com and calculate with our simulators. You'll be impressed by how easy it is!
n How much can you afford to spend on a house?
n How much will your mortgage payments be?
n Start-up costs for a new or existing house.
THE TWO GOLDEN RULES OF BORROWING
n No more than 32%* of the gross household income should go to cover housing costs
n No more than 40%* of the gross household income should go to paying off your debts
* Percentage recommended by mortgage insurers.
5
2.
choosing your home
CHOOSING YOUR HOME
Now that you have finished your calculations with the help of our calculators (www.acadie.com), you
are finally at one of the most exciting stages of your home purchasing plan: finding the dream home
that matches your budget!
Before taking on this adventure, make sure to establish your priorities and be as precise as possible in
determining your selection criteria. Buying a home is always a question of choice. It’s up to you to
identify which criteria are most important to you and which you’re willing to sacrifice. At this stage, you
should have an idea of how much you can spend on a home. Now, there are two other criteria to
consider: location and type of home.
LOCATION
The location of your future residence is a factor that requires particular attention, especially in the big
city. Certain choices could considerably change your budget planning, habits and quality of life.
There’s a big difference between the city and the suburbs. The city offers a vast range of housing
styles, developed public transit and nearby entertainment hubs such as cinemas, restaurants and
theatres. The suburbs, on the other hand, offer bigger properties and homes that are often newer and
more affordable than in the city, but the higher cost of transportation and its inherent impact on the
environment must be considered.
Perhaps the best way to understand this would be to walk around the neighbourhood you're
considering, and make a return trip from the area to your workplace during rush hour.
QUESTIONS TO FIND THE IDEAL LOCATION
n How long does it take you to get to work? How do you get to work?
n What are the local services (daycares, schools, hospital, stores, parks)?
n What is the value of neighbouring homes? Has their value gone up or down?
n Is the area safe and quiet?
6
TYPE OF HOME
Take the time to choose the home that best meets your taste and needs. There are many different
types of homes, each with different advantages and matching different lifestyles. For example:
n Single-family home (bungalow, two-storey)
- Privacy and freedom
- Proven investment
- Generally more expensive
n Semi-detached
- Less expensive than a single-family home (purchase, upkeep, energy, taxes)
- Slightly less private than a single-family home
- Popular with young families
n Duplexes
- Greater cost and downpayment than a single-family home
- Rental income (tax implications)
- More time and resources needed for upkeep
- Rental unit expenses deductible
- Lease management
n Townhouses
- Less expensive than a single-family home (purchase, upkeep, energy, taxes)
- Slightly less private than a single-family home or semi-detached
- Popular with young families
n Condominiums
- A property wherein on each unit belongs to a different owner
- Involves written agreements to manage common areas and for upkeep
- Condo fees
- Less privacy
- Lower taxes
n Undivided co-ownership
- A property wherein each owner owns an amount corresponding to a percentage of the entire
property
- Not covered by mortgage insurers
- Condo fees
- Less privacy
- Lower taxes
N.B. There are also relocatable and factory-built homes.
7
QUESTIONS TO FIND THE TYPE OF HOME FOR YOU
n Do you need a lot of privacy? Do you mind sharing space with neighbours or renters?
n Are energy efficiency and quality of the environment (insulation, heating, air quality,
ventilation, types of material, lighting etc.) important to you?
n How much time will you have to keep up your home?
n Do you need large rooms?
n Do you want a large property?
A NEW OR EXISTING HOME?
COMPARE THE ADVANTAGES
n New home
- Possibility to improve or choose the following: exterior siding, flooring, plumbing and electrical
accessories
- Built according to recent standards (building, electricity, energy efficiency)
- Builder’s guarantee
n Existing home
- Established area
- Landscaped and fenced yard
- Can include certain additions (in-ground pool, basement, etc.)
- In case of major renovations, can be considered as a new home and GST applies
WANT TO BUILD YOUR OWN HOME?
You'd like to build your own home to your taste in your dream location. You have the time and energy,
you're organized, knowledgeable, have experience and contacts in residential construction, and have
friends and family who can help out. Inherently, building your own home is a huge project that
demands careful planning. Below are the nine basic things to do before starting to build:
n Spell out your needs in terms of your preferences, lifestyle and financial capability
n Get plans and specifications that meet building regulations drawn up by specialists
n Get a construction permit
n Get an accident insurance policy
n Draw up a detailed estimate of direct and indirect costs
n Take the plans, specifications and construction permit to your caisse to obtain financing
n Make a critical path schedule from the plans and specifications
n Research and plan the main construction-inspection steps
n Get written contracts with deadlines from material suppliers and subcontractors
8
3.
your allies
YOUR ALLIES
Early on in your property search, it will become obvious that you can’t do everything yourself, even
with the help of your loved ones. With each and every step, make sure you have the competent
support of a team of professionals. They are indispensable! Just look for the list of addresses in the
appendix, as it will be of great use to you during your search.
YOUR CAISSES POPULAIRES ACADIENNES PERSONAL FINANCE ADVISOR
This person is the pillar of your team! In addition to helping you choose the mortgage loan
that best suits your borrowing profile, needs and situation, your advisor acts in your best
interests and will guide and advise you throughout the entire property acquisition process.
THE BUILDING INSPECTOR
Before buying your home, make sure it passes the final test: the inspection. An engineer, building
technician, architect or chartered appraiser can do the job and provide a written inspection report,
evaluating the foundation, roof, structural elements, windows, insulation and plumbing, as well as the
electrical, heating and ventilation systems, etc. A professional inspection provides the following:
n An expert opinion confirming that the asking price is reasonable with respect to the quality and value of
the property
n An evaluation of the cost of repairs
n The detection of any hidden defects
THE LAND SURVEYOR
A land surveyor will prepare a location certificate (building location survey), the document required by
most mortgage lenders. This certificate contains the following information:
n A description of the lot and building
n Identification of illegalities and irregularities (e.g. a fence encroaching on a neighbour’s property)
n A list of any easements (e.g. rights-of-way)
n A list of specific bylaws or regulations that may restrict a property owner’s rights
9
THE LAWYER
The role of the lawyer is to ensure the transaction is carried out according to the rules. To this end, the
lawyer draws up the mortgage deed and the deed of conveyance.
The mortgage deed is an official document that specifies the mortgage loan conditions, along with
the rights and obligations of the borrower and the financial institution. The deed of conveyance is an
official document – drafted from the purchase offer – by which the seller transfers the property title to
the buyer.
Additionally, the lawyer performs a title search and examines documents published by the Registry
Office, and scrutinizes the documents supplied by the seller (tax receipts, location certificate, marriage
contracts or divorce papers).
These procedures are intended to ensure that no one other than the seller has rights to the property,
and that there is nothing that could compromise the seller’s title to the property (e.g. previous
mortgages, easements, pending probate settlements).
The lawyer has the mortgage deed signed by the buyer and the mortgage lender (financial institution)
and publishes it at the Registry Office. Lastly, the notary convenes the seller and buyer (and spouses if
necessary) and has the deed of conveyance signed.
THE REAL ESTATE AGENT
The real estate agent is a housing specialist who’s there to help you find the home that’s right for you.
To be really effective, your agent will need to know your budget and lifestyle, as well as the type of
area you're looking for. Before your first meeting, you might want to use the pre-arranged mortgage
loan to find out exactly how much you can borrow, based on your financial situation and your budget
(ask your financial advisor at your caisse). With this information the agent can quickly help you – thanks
to a familiarity with the market – find the home that meets your needs. The real estate agent will
arrange appointments and accompany you on your visits. This reassuring step will help you save a lot
of time! Finally, your agent will advise you during negotiations and help you draft the purchase offer.
THE CONTRACTOR
When buying or building a new home, ask for the contractor’s references to assure you of their
credibility and competence. You might also want to see if the contractor offers new home
guarantees. You can also ask to visit homes built by the contractor of your choice. If you’re having a
home built, the services of an architect can also be very useful.
10
4.
the mortgage loan
THE MORTGAGE LOAN
Now you have arrived at the crucial stage: choosing a mortgage loan.
Not all borrowers are in the same financial situation. They are not all looking for the same type of loan.
Some focus on interest savings and prefer variable rates, while others are looking for rate and payment
stability. The following section will help you make the right choice and discover the advantages of a
Caisses populaires acadiennes mortgage loan.
MORTGAGE LOANS: KEY TERMS
PRINCIPAL: This is the sum you borrow. This amount is the difference between the purchase price of
your property and your downpayment.
INTEREST: The cost of a loan, paid regularly and expressed as a percentage, for as long as funds are
advanced by your caisse.
PAYMENTS: The amounts you must regularly pay against your loan. They consist of a portion of your
principal and some of the interest on your loan.
AMORTIZATION PERIOD: The number of years over which you’ve chosen to repay your loan. The
most frequent terms are 20 and 25 years. The longer the period, the lower your payments, but the
more you pay in interest.
TERM: The period during which your interest rate and regular loan payment remain unchanged if
you’ve opted for a fixed-rate loan. In the case of a variable-rate loan, the regular payment may
remain unchanged, but the rate varies according to market fluctuations. At the end of the term,
a new term is negotiated with your caisse and new conditions apply for its duration.
FIXED RATE: Stays the same until the end of the term; can apply to an open or closed loan.
VARIABLE RATE: An interest rate that's lower than the fixed rate, but pegged to the prime rate.
OPEN MORTGAGE: Pay it back anytime, in full or in part, without penalty.
CLOSED MORTGAGE: Cannot be repaid in full before maturity. It's possible to make accelerated
payments of up to 15% of the initial mortgage loan amount.
PENALTY: Amount required by the lender for a partial or full repayment of the loan before
maturity.
11
BUILD YOUR FUTURE ACCORDING TO YOUR BORROWING PROFILE
With the help of the following four profiles, find the product that best suits you, and discover all the
advantages the Caisses populaires acadiennes mortgage loans have to offer, at one glance.
Your priority is rate and payment stability.
n Closed Fixed-Rate Mortgage Loan: The longest available term (usually 5 years, but can vary from
terms of 6 months, 1 to 7 years or 10 years) protects you from interest rate hikes while you're
getting used to being a homeowner. The payments are generally higher.
n Open Fixed-Rate Mortgage Loan: Perfect if your property is currently for sale, or if you’re waiting
for an inflow of funds in the short term and are able to use those funds to make payments on
your mortgage loan, in order to avoid paying a penalty. An interest rate higher than the closed
fixed-rate mortgage loan. 6 months or 1 year term.
You prefer stable payments, but want to take advantage of low rates. You have some tolerance
for rate fluctuations.
n “5-in-1” Yearly Fixed-Rate Resetter Mortgage Loan: This loan gives you the benefit of one of the
best fixed rates on the market. The term is for 5 years, revised annually, and providing a
pre-arranged rate discount.
n Protected Variable-Rate Mortgage Loan: Combines the advantages of a variable rate with those
of a fixed rate. You benefit from rate decreases, while being protected from major rate
increases throughout the loan’s 5-year term.
You want to take advantage of rate drops. You are moderately sensitive to interest rates and
payment fluctuations.
n Reduced Variable-Rate Mortgage Loan: The best interest rate guaranteed. The rate follows the
rise and fall of the prime rate. Can be converted into a fixed rate at any time, without penalty.
n Regular Variable-Rate Mortgage Loan: Guarantees very competitive interest rates. The rate
follows the rise and fall of the prime rate. This open loan with a one or two-year term is flexible,
too: it’s refundable at any time in whole or part without penalty.
You're looking for an extremely flexible, tailored financing tool.
n The Versatile Line of Credit: With the Versatile Line of Credit, you can get financing of up to 80%
of the current value of your home at a very good rate. At any time, you can convert the
balance of your Versatile Line of Credit in whole or in part into a mortgage loan or a personal
loan in order to take advantage of rate and payment stability (see the Versatile Line of Credit
*
section).
* Up to 65% of the property value may be taken out as a line of credit and the remaining financing as a loan tied to the
Versatile Line of Credit.
12
NEW: HYBRID MORTGAGES
Can’t decide between a fixed-rate and a variable-rate loan? We can help! By combining several
types of mortgage loans, you get the best of both worlds.
Here’s an example:
Amount
Value of property
$175,000
Downpayment
$10,000
Amount of loan
$165,000
Hybrid Mortgages
Amount of loan
Amount
Interest Rate
1
$165,000
5-year fixed-rate loan
(50%)
$82,500
3.99%
Reduced variable-rate
loan (50%)
$82,500
3.00%
Average rate
3.50%
Advantages:
n You benefit from the rate stability provided by the fixed-rate loan.
n You enjoy the low interest rates of a variable-rate loan.
n You get a combined rate that matches your profile and needs.
THE CAISSES POPULAIRES ACADIENNE DIFFERENCE:
MEMBER DIVIDENDS
Your caisse may pay you a member dividend at the end of its fiscal year, depending on your
cooperative’s financial results and the decisions of the members at the general meeting. In
a way, it's an additional rate discount that no other financial institution offers you!
CAISSES POPULAIRES ACADIENNES MORTGAGE LOANS:
ALL THE ADVANTAGES
n The "Advance Payment" clause allows you to repay up to 15% of your initial loan amount every year
in one or more instalments as an early payment and without penalty.
n The "Renewal before Term" clause allows you to modify the length of your loan’s term in order to
establish new conditions adjusted to the market rate.
1 These rates are provided for illustration purposes only and do not necessarily reflect current promotions. The annual percentage
rate (APR) is the borrowing cost of a loan in the form of interest rate. It includes all interest fees and all fees that must be included in
calculating the cost of credit. Since the Caisses populaires acadiennes require no fees on most loans, the annual interest rate and
the APR are usually identical.
13
THE VERSATILE LINE OF CREDIT: THE IDEAL FINANCING TOOL
The Versatile Line of Credit is an excellent financing method that allows you to use the full value of the
equity in your home to see your projects through. Whether you're looking to renovate your home, buy
a secondary residence, pay for your children's education, travel or invest in the stock market, the
Versatile Line of Credit is the ideal way to leverage the increased value of your home.
The Versatile Line of Credit:
n Simplifies the management of your personal finances. Like all lines of credit, it's available when you
need it
n Allows you to group all your loans in a single loan and to access available funds at any time (by
cheque, ATM, Internet transfer) without intervention from the caisse
n Gives you a good interest rate so you save a lot
n Allows you to split your mortgage loan so you can vary payment dates. You could also have one
portion at a fixed rate and another at a variable rate. As an example, a $150,000 loan could be split
this way:
- One $50,000 segment in a "5-in-1" Yearly Fixed-Rate Resetter Mortgage
- One $60,000 segment in a Regular Variable-Rate Mortgage
- One $40,000 segment in a 5-year Closed Fixed-Rate Mortgage
LIFE INSURANCE AND DISABILITY INSURANCE: TWO WISE WAYS OF
PROTECTING YOUR FINANCIAL HEALTH
A number of consumers believe that by having salary insurance, all they have to do is get life
insurance to guarantee financial security for them and their loved ones. However, in most cases, salary
insurance only pays out two-thirds of ones income. How do you then maintain your lifestyle if you
become sick or get hurt in an accident?
When you decide that you want to take out disability insurance, you need to examine your ability to
continue to pay your mortgage, should an accident or illness befall you and prevent you from working
for some time. To see if you can continue to pay for your house, take all your financial obligations into
account (groceries, clothes, taxes, hydro, school fees for the children, any medication, travel to the
hospital, other loans, etc.).
No matter what type of financing you choose, loan insurance or line of credit insurance can help you
protect your financial security.
If need be, you and your advisor can take a look at your situation and he/she can explain how it
works.
14
FOUR WAYS TO SAVE ON INTEREST AND QUICKLY REPAY YOUR LOAN
n Choose the weekly payment mode and pay an extra amount every week. In the long run,
you’ll enjoy significant savings and reduce your amortization period. For example:
$150,000 loan (20 years, 5-year term at 6.65%)
Amount
Amortization
Interest cost
$1,123.64
20 year
$119,673.60
Standard weekly
$257.87
20 year
$119,113.13
Accelerated weekly
$280.91
16.9 year
$98,324.44
Payment schedule
Monthly
(monthly divided by 4)
CONCLUSION : By choosing the accelerated weekly payment schedule instead of the
monthly payment schedule, you reduce your amortization period by 3.1 years and save
$21,349.16.
n Increase your regular payments up to double the initial payment, once a year (or once a
term if the term is less than a year).
n If possible, repay up to 15% of the initial loan every year (or once a term if the term is
less than a year).
n Coordinate your payroll deposit with the payment of your mortgage loan. A simple way
to manage your budget.
15
5.
the purchase offer
THE PURCHASE OFFER
You've just found the home of your dreams. It's perfect. It is exactly what you were looking for and is
within your budget.
So now you’re at the final, crucial stage – the purchase offer. Remember that the legal implications of
buying a home are significant. This section should help simplify the process. Before making your offer,
make sure that you fully understand all your commitments.
BE AWARE OF THE COMMITMENT INVOLVED
The purchase offer is a highly important document that is legally binding on the parties. It is a contract
in which one person offers to buy a property from another under certain conditions. Consequently, you
should never sign a purchase offer hastily.
The purchase offer includes all the details needed to identify the property, along with the conditions
for the transaction. For example:
n address and lot number
n amount of the deposit
n date of possession
n distribution of taxes
n length of time that the offer is valid (generally between twenty-four and forty-eight hours)
n what is included in or excluded from the sales price (e.g. light fixtures, curtains, carpeting, household
appliances)
n approval of mortgage loan (amount, rate, term)
n satisfactory inspection of premises by an expert
n sale of your current house
n any other condition(s) deemed appropriate
Forms for presenting a purchase offer are available from your lawyer or real estate agent.
16
KNOW WHEN AND HOW TO ACT
What happens once the offer is made? The seller can either accept or turn down your purchase offer.
If turned down, the seller can then make a counter-offer (on the date of occupancy, price etc.),
which you can either accept or refuse. If you refuse the counter-offer, you may make another
counter-offer. When an offer is accepted by the seller, it constitutes an agreement to sell.
Once a purchase offer has been accepted, neither party can refuse to carry it out. Otherwise, the
seller or buyer can be sued for damages caused to the other party. The buyer could even lose the
deposit.
THE BIG DAY: SIGNING THE CONTRACT
Upon concluding the sale, make sure that your lawyer has all the necessary documents on hand
(mortgage deed, tax receipts, location certificate/building location survey). With your legal
representative, go over the adjustment statement that details the amount that has to be signed over
to the seller in order to conclude the sale. Your lawyer will pay the seller on your behalf with your funds,
which you have arranged to make available through your advisor.
The appended homeowner’s checklist will give you a list of things to do before you move.
YOUR QUESTIONS DESERVE ANSWERS
Congratulations! You have just aced the five steps of the Caisses populaires acadiennes
Home Buyers’ Guide that will enable you to be a homeowner. If you would like more
information, contact your advisor at the Caisse. To take out a mortgage loan, make an
appointment with your Caisse advisor.
In the years ahead, you may have other projects in mind, such as going back to school,
taking a vacation or buying a new vehicle. Whatever you have in mind, your advisor would
be pleased to help you turn those dreams into reality.
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appendix 1
HELPFUL ADDRESSES
CAISSES POPULAIRES ACADIENNES
www.acadie.com
OFFICE OF ENERGY EFFICIENCY
1 800 397-2000
www.oee.rncan.gc.ca
CANADIAN REAL ESTATE ASSOCIATION
1 800 842-2732
www.crea.ca
INSURANCE BUREAU OF CANADA (IBC)
Atlantic Provinces 1 800 565-7189
Elsewhere in Canada 1 800 761-6703
www.ibc.ca
CANADIAN HOME BUILDERS' ASSOCIATION
www.chba.ca
CANADA MORTGAGE AND HOUSING CORPORATION (CMHC)
1 800 668-2642
www.cmhc-schl.gc.ca
ATLANTIC HOME WARRANTY PROGRAM
1 800 320-9880
www.ahwp.org
18
appendix 2
FUTURE HOMEOWNER'S CHECKLIST
Moving day is coming fast. But don’t panic! Here’s a checklist of most of the things to be taken care of
before you make the big leap. Allow yourself about two month’s time before the move.
1. As soon as possible, reserve a moving company, or a moving van if you’re doing the move yourself.
2. Give a notice of departure to your current landlord before the deadline.
3. Clean-up time! Sell everything you don’t need, or donate it to charitable organizations.
4. Start packing your boxes as soon as possible and make sure to list the contents on each one.
5. Confirm the moving details with your mover.
6. Go over a list of your valuables with your insurer.
7. Photocopy your medical, dental and school certificates if you’re changing neighbourhoods.
8. Notify Canada Post of your address change, as well as all your friends, family and service providers.
9. Go over any final details with your moving company a few days prior to the big move.
10. Return your keys to your landlord, check each room and take one last look.
Welcome home
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Find out more at:
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www.acadie.com