CMHC offers 100% financing for investment properties
The Canadian Housing and Mortgage Corporation (CMHC) now allows investors in real estate mortgage insurance that covers "100-per-cent financing on one or two units and 90-per-cent financing for a third and fourth rental unit." The cost of this insurance is based on the loan amount, and prospective investors will still need to qualify for the loan. However, this change makes it considerably easier for investros, who up till last month, were required to place a 15 per cent down payment on investment properties.
For more information about this new mortgage option, and to learn about investing in North and West Vancouver real estate contact us today.