1. Finance your home purchase
The All-In-One Banking solution can help you buy your first home or a new property:
All-In-One Banking provides you with the flexibility of a line of credit and the lower interest rate associated with a mortgage loan.
- minimum down payment is to 20% of the home's value2
- eligible for the Home Buyers' Plan4 (HBP)
- one of the lowest rates on the market.
Compare the advantages of All-In-One Banking to a traditional mortgage loan.
As you gradually pay off your mortgage, the repaid capital becomes a fund that you can use for other projects.3
2. Finance your projects
Here are the main advantages:
- one great rate for all your projects
- have multiple accounts and manage each one separately
- or integrate your other National Bank accounts if you prefer
- monthly consolidated account statement.
1 Subject to National Bank credit approval. Certain conditions apply.
2 A maximum amount equivalent to 65% of the value of the property may be in the form of a line of credit, and the rest of the funding has to be in the form of a mortgage loan. For example, if the value of the property is $ 100,000 and you have an amount of $ 20,000 available for down payment (20% of the value of the property, which is the minimum required), the authorized credit limit of the All-In-One will be $ 80,000. However, of this $ 80,000, up to $ 65,000 will be in the form of a line of credit and the rest will be in the form of a mortgage loan.
3 Not to exceed the maximum amount available as a line of credit, i.e. an amount equal to 65% of the property value.
4 To be eligible for the Home Buyers' Plan, the selected home must be located in Canada, purchased or built before October 1 of the calendar year following the RRSP withdrawal and serve as the buyer's principal residence within a year of being purchased or built. You and your spouse can each withdraw up to $25,000 from your RRSP. You have 15 years, as of the second calendar year after withdrawal, to repay your RRSP. Your annual repayment must be equal to 1/15 of the total amounts withdrawn.
TM National Bank All-In-One is a trademark of National Bank of Canada