Mortgage loan insurance allows borrowers to purchase or refinance mixed-use properties with favourable features such as various loan terms, higher loan-to-value ratios, and longer amortizations. These advantages enable borrowers to maximize loan proceeds, manage cash flow more effectively and realize higher investment returns.
We also provide full support and expertise to borrowers seeking CMHC construction loans. [link to that page]
However, there are only certain scenarios where CMHC financing applies. CMHC considers mixed-used properties if the non-residential component is less than 25 percent of the floor space and non-residential revenue is less than 25 percent of the total gross.
In cases where a mixed-use property does not qualify for an insured mortgage, a First National standard conventional financing is an excellent alternative for borrowers who want different options.
Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage, insured or conventional.