Multi-Units

5-6 Units:

• For a conventional mortgage, the financing can amount to 75% for a maximum amortization period of 25 years, the evaluation report must be completed and the environmental test and phase 1 can be claimed.
• The debt coverage ratio is 1.20.
• With a mortgage loan insurance (CMHC), the financing amounts is up to 85% for a maximum amortization over 30 years. The assessment report must be completed and the environmental test and Phase 1 can be requested if there is a risk of contamination.
• The debt coverage ratio is 1.10 of the purchase amount and 1.20 of the refinancing.

7+ Units:

• For a conventional mortgage, the financing amounts is up to 75% for a maximum amortization of 25 years, the evaluation report must be completed and the environmental test and phase 1 can be claimed in case of risk of contamination on the site.
• The debt coverage ratio is 1.25.
• For a mortgage with mortgage loan insurance, the financing amounts is up to 85% with a maximum amortization of 30 years. The assessment report is not required but the environmental test and phase 1 must be carried out.
• The debt coverage ratio is 1.30