What residential rental properties qualify for financing?
Most financial institutions will finance the following investment property purchases: • Rental properties, such as apartment buildings • Condominiums • Retirement homes • Nursing homes • Mixed-use properties, such as apartments with commercial spaces • Other forms of co-ownership (such as co-op, co-housing, undivided interest, and life lease) The Canada Mortgage and Housing Corporation (CMHC) is Canada’s leading provider of mortgage loan insurance for multi-unit residential buildings. With CMHC-insured loans, borrowers can obtain mortgage financing up to 85% of the value of the property without a maximum dollar amount and therefore reduce the amount of equity needed.
