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Mortgage Loan Insurance for Multi-Unit Residential Properties (5+ units)
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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?
Take a fresh look at what’s possible — CMHC’s brochure for multi-unit clients (developers, borrowers, etc.) highlights the advantages of CMHC Mortgage Loan Insurance for multi-unit residential properties. Check out the following examples to compare the savings potential of a CMHC-insured mortgage loan vis à vis a conventional mortgage.
- Purchase Rental Buildings
- Refinance Rental Buildings
- Financing New Construction Projects
- Condominium Construction Projects
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 Condominium Construction
CMHC Mortgage Loan Insurance enables Approved Lenders to help developers benefit from financing choices and access to competitive interest rates.
CMHC Multi-Unit Condominium Energy-Efficient Improvements
CMHC Loan Insurance enables Approved Lenders to offer condominium corporations financing choices and access to competitive interest rates when looking to finance energy improvements to common elements.
Additional Documentation
CMHC Multi-Unit Documentation Checklist
Turnaround times are significantly reduced for applications submitted with minimum documentation.
CMHC Multi-Unit Reference Guide provides an overview of CMHC’s common Multi-Unit Mortgage Loan Insurance products.
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