Property types that can be insured:
Multi-unit residential rental properties
Condominiums
Retirement (congregate care) homes
Nursing (intermediate & extended care) homes
Mixed use properties (apartments, with some commercial space)
Other forms of co-ownership (co-op. co-housing, undivided interest, life lease)

Lending parameters:
Canada wide, strong rental markets with low vacancy
Flexible loan amounts
Up to 85% LTV
Debt Service Ratios of 1.2- 1.3
Min. term 5 years
Max. amortization 35 years
Lender/ Broker fee negotiable

Costs of insured mortgages:
The cost of insuring a mortgage with CMHC varies according to loan value, but there are two types of costs:

>Application fee:
This fee is normally equal to $150/unit on the first 100 units and $100/unit thereafter- to a max. fee of $50,000. This fee is due at the application stage and added to the loan amount at time of funding.

>Mortgage Insurance Premium:
This fee varies from 1.75% to as high as 5.50% of the loan amount (for nursing homes and retirement homes) and is only paid once during the entire year amortization period. The fee is added to the loan amount at the time of funding.

>Lender/ Broker Fees:
Lender/ Broker fees are negotiable. We can provide the option of being paid directly by the lender on this type of financing, so our clients do not have to find the cash from their personal resources at closing.