CMHC Rental Construction Financing

CMHC rental construction financing provides low cost funding to eligible borrowers during the most risky phases of product development of rental apartments (construction through to stabilized operations). The minimum loan is $1,000,000, and a maximum of up to 100% of Loan to Cost (for residential loan component). CMHC Rental Construction financing can be used for a variety of rental housing types.

Integrum Mortgage

Standard Rental Apartment Projects

Who are you building for?

These projects are intended for middle-market renters. That are for projects with more than 80 rental units and are located in census metropolitan areas or large urban centers.

Supporting the rental housing initiative

The CMHC Rental Construction Financing initiative supports the construction of new rental housing units by providing low-cost financing to qualified developers. The program is designed to improve the supply of purpose-built rental housing units in CMAs and large urban centres across the country by:

– Encouraging the construction of new rental housing units.

– Helping to ensure an adequate supply of rental housing for middle-market renters.

– Supporting the development of a more diverse and competitive rental housing market.

– Generating economic benefits through the construction of new rental housing units and the creation of jobs.

How does it work?

CMHC Rental Construction Financing is interest only during the construction period, with a maximum amortization period of 25 years. After the construction period, the loan must be refinanced into a CMHC insured mortgage loan.

It is designed to encourage the construction of new rental housing units by providing low-cost financing to qualified developers. The program is intended to improve the supply of purpose-built rental housing units in CMAs and large urban centers across the country by:

– Encouraging the construction of new rental housing units.

– Helping to ensure an adequate supply of rental housing for middle-market renters.

– Supporting the development of a more diverse and competitive rental housing market.

– Generating economic benefits through the construction of new rental housing units and the creation of jobs.

CMHC Rental Construction Financing can be used for:

– Acquiring land.

– Constructing new rental housing units.

Refinancing existing debt.

Integrum Mortgage Was A Key Point In Our Rental Construction

We were able to build a 207 unit rental apartments for middle and low income Canadians. The Process was smooth and easy, we qualified for 91% financing through Integrum Mortgage with the rental homes initiative. I would absolutely recommend their services.

Josh L

Developer

Mortgage Professionals

Integrum Mortgage