What Kind of Properties Can Be Bank Financed?

What Kind of Condo/Properties Can Be Bank Financed?

Banks and Other Finance Institutions will usually  finance the following investment property purchases:

• Stand Alone Apartment Buildings
• Highrise and Low-Rise Condo Buildings
• Retirement Living Estates
• Senior Care Facilities and Housing
• Mixed Commercial and Residentail Space with Retail Components
• Other forms of co-ownership (such as co-op, co-housing, undivided interest, and life lease)

The Canada Mortgage and Housing Corporation (CMHC) is Canada's leading provider of mortgage loan insurance for multi-unit residential buildings. With CMHC-insured loans, borrowers can obtain mortgage financing up to 85% of the value of the property without a maximum dollar amount and therefore reduce the amount of equity needed.