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Hear Hot Property with Ozzie Jurock every Saturday morning between 8:30-10 am on CKNW AM980
Tip of the Week:
1/19/08
CMHC insures investment mortgages up to 100% (new)
Harvey McCallum highlights new 100% Rental Financing:
- 100% ltv for rentals, one unit does not have to be owner occupied.
- maximum ltv for 3-4 units (purchase or refinance) is 90%.
- CMHC will not insure more then 90% ltv is property is greater then 2 units.
- 100% financing is for purchases only (maximum 2 units). Beacon score must be 680 or greater
- maximum ltv for refinances is 95% (maximum 2 units). Beacon score requirement is 650 or greater.
- maximum amortization is 40 years
- properties cannot have any commercial components
- Mortgage can be registered in Company name
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