Mortgage Loan Insurance for Multi-Unit Residential Properties (5+ units)
CMHC is Canada’s provider of mortgage loan insurance for the construction, purchase and refinancing of multi-unit residential properties, including rental buildings, licensed care facilities and retirement homes.
What CMHC product is best for your client?
Check out the following examples to compare the savings potential of a CMHC-insured mortgage loan vis à vis a conventional mortgage.
CMHC Multi-Unit Products
CMHC Multi-Unit Purchase
CMHC Mortgage Loan Insurance enables Approved Lenders to help borrowers purchase multi-unit properties with a minimum of 15% down.
CMHC Multi-Unit Rental Construction
CMHC insured financing on new construction eliminates the need to reapply for long term takeout financing at the completion of construction, and helps developers and builders realize interest cost savings right from the first advance of mortgage funds.
CMHC Multi-Unit Refinance
CMHC multi-unit refinance provides flexibility to borrowers wishing to refinance properties within their existing portfolios.
CMHC Multi-Unit Energy-Efficient Properties
When constructing multi-unit housing, or improving the energy-efficiency of existing projects, CMHC mortgage loan insurance can offer big savings, including up to 15 per cent premium refunds.
CMHC Multi-Unit Retirement and Long-Term Care Facilities
CMHC Mortgage Loan Insurance enables Approved Lenders to offer flexible loans for the construction, purchase and refinance of seniors housing and care facilities.
CMHC Multi-Unit Affordable Housing
To support the creation of affordable multi-unit housing, CMHC offers financing flexibilities, including loan-to-value ratios of up to 95% and reduced premiums. The higher the level of affordability, the greater the flexibilities offered.
CMHC Multi-Unit Student Housing
CMHC Mortgage Loan Insurance enables Approved Lenders to offer flexible loans for the construction, purchase and refinance of purpose-built student housing projects.
CMHC Multi-Unit Residential 5 and 6 Unit Properties
CMHC mortgage loan insurance enables Approved Lenders to offer flexible loans for the construction, purchase, and refinance of multi-unit residential 5 and 6 unit properties.
Additional Documentation and Tools
CMHC Multi-Unit Fees and Premiums
CMHC Multi-Unit Documentation Checklist
Turnaround times are significantly reduced for applications submitted with minimum documentation.
CMHC Multi-Unit Replacement of Covenant
Outlines supporting documentation required for replacement of covenant of borrower and guarantor requests.
Mortgage Loan Insurance for Multi-Unit Residential Properties provides the complete set of CMHC multi-unit products, fees and premiums, and documentation checklist.
Affordable Housing Project Viability Assessment