Mortgage for Multi-Family Residential Property
Commercial mortgages are available for multi-family properties with 5+ units.
In certain cases it is possible to finance 5 to 8 unit multi-family properties with a residential mortgage. Click here for details.
CMHC insured mortgage
Getting an insured mortgage will provide lower interest rates. Here is an overview of the program.
- Available for purchase, refinance, construction
- Financing up to 85% of value as determined by CMHC (might not be your purchase price)
- Borrower must have net worth of 25% of the loan amount, with a minimum of $100,000.
- Fees 1.75% to 4.5% of mortgage amount, depending on loan to value
to go over any questions you might have.