In an effort to be more pragmatic in its approach, CMHC intends that the changes will make rental and affordable housing more accessible to more Canadians. The good news is that much of the policy transformation favours borrowers including:
CMHC has also implemented additional policies for rental achievement requirements for new construction, second mortgage maturity requirements, as well as new policies to simplify its affordable housing requirements.
While the policy changes are positive and have created new potential opportunities for you as a borrower, there are intricacies to dissect and understand. I am here to help you do that. Together, we can determine how the new policies impact your portfolio and future real estate strategies. Please contact me with any questions that you may have.
You can also expect follow up communications from me as our team of experts continues to explore and analyze these policy developments.
Content from First National Financial LP
Details on CMHC Multi-Family (5+ unit) Commercial Financing here
We find most typically it’s best for multi-family real estate investors to approach one direct lender and another via a mortgage broker. We can refer you to the best options given your property and situation. Just contact us at 1-877-417-2626 or email here.