Mortgage Loan Insurance: Single Room Occupancy 

CMHC mortgage insurance offers flexible tools to build, buy or refinance single private rooms in multiple tenant buildings. Co-living* is eligible for Multi-Unit Mortgage Loan Insurance. Financing options available include:

  • 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

*Co-living is a form of shelter where tenants share common amenities such as cooking and laundry facilities, while maintaining private sleeping quarters, some containing separate ensuites. The shelter model appeals to singles, young professionals, seniors, and others seeking urban living and a sense of community at a relatively affordable cost.


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

  • have at least 5 units of short- or long-term housing 
  • provide single private rooms in a multiple tenant building 
  • offer access to shared bathrooms (and sometimes a shared kitchen) 
  • 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: 

  • proven competence in single room occupancy projects 
  • 5+ years’ experience with a similar property (or a property management firm with this record) 
  • a net worth of at least 25% of the value of the loan 
  • the capacity to cover a full year at 100% vacancy (for new construction) 
  • the ability to guarantee 100% of the loan until you have 12 consecutive months of stable rents 




For more details about our mortgage insurance tools, including:

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Date Published: March 31, 2018