I work with many real estate investors in London Ontario who still think they have to have a minimum 20-25% down payment when buying income residential properties such as duplexes tri-plexs or 4 or more units. Below is a CMHC features and benefits and if you go here, you can read all about it.
CMHC Mortgage Loan Insurance enables Approved Lenders to help borrowers purchase multi-unit properties with a minimum of 15% down. Borrowers can also access competitive interest rates for the life of the mortgage and enjoy reduced renewal risk.
FEATURES
Purchase – Loan-to-Value ratios up to 85% of the “as is” or “as improved” value.
Flexible financing terms available including extended amortization periods and fixed and floating interest rates.
Available for first, second or pari passu mortgages.
With substantial capital improvements, projected rents may be used in valuation of “as improved” lending value.
The loan during renovation / improvement can be the greater of 85% of “as is” value or 75% of “as improved” value.
BENEFITS 
More Flexibility – Borrowers can obtain mortgage financing up to 85% of the lending value of the property.
Lower Interest Rates – CMHC insured financing provides access to competitive interest rates for the life of the mortgage.
Reduced Renewal Risk – CMHC Mortgage Loan Insurance offers product features that meet project financing needs and
facilitate renewals.
Availability – Available for new and existing multi-unit residential properties including rental, student housing, retirement and longterm care facilities located from coast-to-coast-to-coast.
Comments(2)