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CMHC 1 – 4 Unit Rental Properties
CMHC’s mortgage loan insurance for 1 – 4 unit rental (non-owner occupied) properties provides investors
with more housing finance choice when purchasing or refinancing a small rental property. Investors can
purchase a 1 – 4 unit rental property with little or no down payment. Investors interested in refinancing can
obtain insured financing of up to 95% of the property’s value, depending on the number of units in the
property.
Application processing is streamlined through emili, CMHC’s mortgage loan insurance approval system which
provides a quick turnaround time on application decisions, in most cases, within 15 seconds.
Terms and Conditions
Also refer to CMHC’s General Requirements (OPIMS 62136). The following table highlights the policies
that permit CMHC Mortgage Loan Insurance for 1 – 4 unit rental properties.
Effective Date
Sept. 21, 2007
Loan Purpose
Loan to Value
Ratio
OPIMS 63671 09/21/07
Amortization
Period and
Repayment
Loan Security
Eligible
Properties
Property
Appraisal