Thinking of buying a property in Laval? This large city benefits from the economic effervescence of Montreal, so its real estate market is developing at a steady pace. Buyers are rushing in, and most houses and condos are snapped up quickly!
To get a loan that will allow you to obtain the keys to the perfect property in this area, you have everything to gain by taking advantage of the advice of a mortgage broker in Laval: the Distinction Multi-Prêts team is proud to have been serving this market for over 20 years!
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Mortgage brokers office for Laval
Multi-Prêts
The specific characteristics of the Laval market
Laval, located near Montreal, has a population of over 438,000. Its economy is based mainly on tertiary activities. The city has an efficient public transport network, with bus routes, metro stations and commuter train lines.
Laval is a modern city with an efficient public transport network, managed by the Société de transport de Laval (STL). Some 44 bus routes link the city’s neighbourhoods. The city is served by three metro stations on the orange line from Montreal. Two commuter train lines also pass through Laval: the Saint-Jérôme line, with three stations (Sainte-Rose, Vimont and De la Concorde), and the Deux-Montagnes line (Île-Bigras and Sainte-Dorothée). Public transport passes and fares are reasonable. What’s more, the STL has invested generously to meet government standards on accessibility for people with disabilities.
Laval’s economy is essentially based on tertiary activities, which account for 86.2% of the total. Chemical and printing manufacturing companies are also located in the region (10.1%). From a residential point of view, Chomedey, to the south-west of Île Jésus, is Laval’s most populous and liveliest district. It shares a boundary with Fabreville, another densely populated area. In this area, 86% of residents own their own home. Vimont, Pont-Viau, Laval-des-Rapides and Duvernay are also among the city’s 14 neighbourhoods.
Find the ideal mortgage for your purchase in Laval with our mortgage brokers
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How can our brokers help you buy in Laval?
Our mortgage brokers on the Distinction Multi-Prêts team are experts in the Laval real estate market. Here’s how they can help:
- Analyze your financial situation: Our brokers evaluate your financial profile to determine how much you can borrow.
- Search for the best rates: With access to a multitude of lenders, our brokers compare offers to get you the most competitive rates.
- Personalized support: From the beginning to the end of the buying process, our brokers advise you and guide you through all the administrative procedures.
- Optimizing your file: Our experts help you prepare a solid file to maximize your chances of loan approval.
- In-depth knowledge of the Laval market: Our brokers are well-informed about the trends and particularities of the Laval market, and offer sound advice to help you make the best choice of property.
Choose a customized service that facilitates the acquisition of your new home or condo in Laval.
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The Laval real estate market in 2021-2022
Laval’s real estate market continues to follow a dynamic trend similar to that of Montreal. In 2024, despite some economic fluctuations, Laval remains an attractive market. The number of transactions at the start of 2024 showed a slight increase, with approximately 1,208 properties sold in the second quarter. The median price of single-family homes was up 8% on the previous year. For condominiums, the median price is around $390,000, with an average of 58 days to sell a condo, compared to 48 days for a single-family home (HonestDoor) (Mortgage Sandbox) (PropertyHub).
Laval offers a variety of property types, from single-family homes to plexes with 2 to 5 units. The market continues to be influenced by a number of factors, including interest rates and ongoing infrastructure projects such as the REM. Current trends indicate sustained demand for properties in Laval, despite global economic challenges (Mortgage Sandbox) (PropertyHub).
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Major real estate projects in Laval
Like Montreal, Laval will benefit from the advantages of the REM (Réseau express métropolitain). Improved public transit will simplify travel between neighborhoods and cities in the metropolitan region. If you live in Laval, it will be easy to get to Montreal for work or leisure.
Other major projects under study or in the implementation phase include an urban design project around the De la Concorde and Cartier metro stations, as well as a program to revitalize the Val-Martin buildings and develop the downtown area.
Laval’s popular neighborhoods
Laval, with its many diverse neighborhoods, offers a variety of options for potential buyers. Chomedey, located southwest of Île Jésus, is one of the liveliest and most populous neighborhoods, known for its dynamic atmosphere and numerous amenities. Sainte-Dorothée, meanwhile, is prized for its residential charm and green spaces, attracting families in particular.
Vimont and Duvernay are also very popular, offering a mix of residential tranquility and proximity to essential services. Laval-des-Rapides stands out for its accessibility to public transportation, making it easy to commute to Montreal. Whether you’re looking for an urban atmosphere or a more serene setting, Laval has a neighborhood to suit every lifestyle and need.
mortgage broker for Laval
What makes a good mortgage broker in Laval?
Looking to buy a house, condo or plex in Laval? For the best possible experience, you’ll need the help of professionals, including a real estate broker to find the home of your dreams and a good mortgage broker to finance it!
To do so, rely on an expert who has already helped many clients in Laval, and who knows the particularities and values of this market. Multi-Prêts Hypothèques, of which the Distinction team is a member, is at your service. Make an appointment with one of our mortgage brokers: : he or she will analyze your profile and develop a strategy to find you an advantageous loan at a competitive rate!
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Other Frequently Asked Questions
A mortgage consultant travaille pour une banque et a pour objectif de vendre les produits financiers de sa banque. A mortgage broker, on the other hand, is independent, comparing various lenders (banks and other financial institutions) to find the best terms for the customer in Laval.
Generally speaking, the financial institution or lender pays the mortgage broker in the form of a commission for bringing in a customer. In most cases, the customer does not have to pay directly for the broker’s services.
The commission varies according to the lender and the loan amount. It usually ranges from 0.5% to 1.2% of the loan amount, but this may vary depending on the loan conditions.
If you’re looking to buy in Laval, or renew your mortgage, it’s essential to choose a broker with good knowledge of the local market, a solid reputation and good reviews from previous customers. Make sure they’re also certified and work with a variety of financial institutions to offer you the best terms.
Mortgage rates fluctuate according to market and central bank policies. Consult a mortgage broker for competitive rates, and check current rates with several financial institutions for an up-to-date answer. Rates can be fixed or variable: to find out more, visit our rates page.
The decision between a fixed and variable rate depends on your risk tolerance and financial goals. A fixed rate offers the security of a stable, predictable payment throughout the term of the loan. This is reassuring in a context of rising interest rates, as you are protected against market fluctuations.
On the other hand, a variable rate generally starts lower than a fixed rate and can offer savings if interest rates fall or remain stable. However, it involves more uncertainty, as payments can increase if interest rates rise.
Meeting with a mortgage broker in Laval can help you assess your personal situation and determine which option is best for your mortgages.
Putting together a mortgage file can be complex and time-consuming. A mortgage broker has access to tools and resources that can help you quickly find the best possible deal.
The broker is always on the lookout for the best rate for you. What’s more, they’ll guide you through the mortgage process and help you avoid potential pitfalls, so you can make the best choice for your situation.
Office hours
Monday: 8:00 – 20:00
Tuesday: 8:00 – 20:00
Wednesday: 8:00 – 20:00
Thursday: 8:00 – 20:00
Friday: 8:00 – 20:00
Saturday: closed
Sunday: closed
