The market that includes rental properties of 6 or more units as well as retirement homes is much more complex than the residential market.
These properties can be financed at a maximum of 85% loan-to-value, the value being based on the property’s profitability. They must all be insured through CMHC. The investor must also have a personal net worth of at least $100,000.00.
Ultimately, it is imperative that this type of property generate enough revenue to meet its obligations on its own. Due to the complexity of this type of mortgage loan, it is recommended that you consult with one of our mortgage brokers in order to maximize the chances of rendering your project a success.
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