Multi-Unit Residential with CMHC Insurance
CMHC Mortgage Loan Insurance enables approved lenders to help borrowers purchase multi-unit residential properties with a minimum of 15% down, as opposed to loan-to-value ratios of 75% or often much less. CMHC insurance typically also yields interest savings for the borrower because the lender’s exposure is guaranteed. 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 Mortgage Loan Insurance enables approved lenders to offer flexible loans for the construction, purchase and refinance of seniors housing and care facilities. And to support the creation of affordable multi-unit housing, CMHC can offer financing flexibilities, including higher loan-to-value ratios up to 95% and reduced premiums. The higher the level of affordability, the greater the flexibilities offered.