To apply for CMHC Rental Construction Financing, developers must submit a Loan Application to their lender who will then review and assess it. The application will include information about the developer’s experience and track record, financial information about the project, a detailed business plan outlining the project’s objectives, timelines and feasibility.
The lender will forward the application to CMHC for review and approval. Once approved by CMHC, the lender can proceed with providing financing for the project.
CMHC Rental Construction is available to qualified developers who meet all of the eligibility criteria. To learn more about the program and how to apply, please contact us here, and we’ll have our construction rental initiative representative give you more information
The Rental Construction initiative helps to ensure an adequate supply of rental housing for middle-market renters across Canada. It also supports 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. With its low-cost financing, the initiative provides an attractive opportunity for developers to build purpose-built rental housing in CMAs and large urban centers.