Mortgage Loan Insurance: Supportive Housing 

Supportive housing offers a stable place where tenants can learn new life skills, be independent and connect to the community. CMHC mortgage insurance offers flexible tools to help developers build, buy or refinance supportive rental housing.

This includes tools like:

  • higher loan-to-value ratios
  • loan advances up to 75% of the lending value during construction
  • lower debt coverage ratios
  • preferred interest rates
  • amortization periods up to 40 years

IS YOUR PROJECT ELIGIBLE?

Our flexibilities are available for first, second and pari passu mortgages on any eligible supportive housing. To be eligible, your project must: 

  • have at least 5 units
  • offer your tenants access to support services on- or off-site
  • be at least 70% residential in terms of both floor area and the total loan value
  • have a maximum loan-to-value ratio of 85% 

In addition, the borrower or co-borrower must have:

  • at least 5 years' experience owning or operating a similar facility, or
  • a long-term contract with a property management firm with this record of experience

You must also have a net worth of at least 25% of the value of the loan. Plus, you must be able to guarantee 100% of the loan until you have 12 consecutive months of stable rents. 

AFFORDABLE HOUSING OPTIONS

ENERGY-EFFICIENT REFUNDS

FIND OUT MORE

For more details about our mortgage insurance tools, including:

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Date Published: March 31, 2018