- Maximum LTV/Minimal Advance payment: You can use up to an excellent 95% loan-to-worth (LTV) otherwise build an advance payment as little as 5% with the earliest $five hundred,000, and you may ten% to the rest.
- Restrict Amount borrowed: The purchase price otherwise value of the house should be less than $one million.
- Minimum Credit score: Minimal credit history try 600 .
- Restriction Obligations Solution Rates: The most Terrible Loans Provider Proportion (GDS) are 39 % and also the limit Complete Debt Service Proportion (TDS) is actually forty-two %.
- Restrict Amortization Months: twenty five years
CMHC thinking-operating mortgage loans might be manager-occupied attributes which have around five equipment, or low-manager occupied for rental properties doing four equipment. Continue reading “Stated money mortgages can not be insured from the CMHC”