RESOURCES
LIVE WORKSHOP ONLINE COURSE FREE TRAINING BLOG
ABOUT PIERRE-PAUL NEED A MF BROKER TESTIMONIALS
PROPERTIES CONTACT US

Canadian Multifamily Investors Blog

Learn The Proven Secrets That Only Experienced Real Estate Investors Know

BREAKING NEWS! CMHC Reprioritizing Applications & Causing Long Turnaround times.

Aug 08, 2023
 

As of the time of writing this post, August 8, 2023, CMHC is issuing mortgage lenders and brokers an advisory informing them on how they will temporarily prioritize financing applications for multifamily properties (five + units) based on the type of applications they receive.

Watch this three-minute video to get the details.

If the financing applications do not fit within CMHC's priority list, the advisory states that "it may take more than six months to assign the applications to an underwriter"...

CMHC has faced an onslaught of applications resulting from the recent interest rate increases combined with the increase in CMHC insurance premiums this past June.  A lot of investors wanted to get their applications in before the situation got worse. 

Add to this that during the summer, a lot of underwriters take time off, and you have stretching turnaround times.

Cheers!

PP

  fo

Categories

All Categories apartment buildings appealing property tax assessment baltazar interview building inspector cap rates caution: illegal suites in apartment buildings! cmhc financing rules cmhc mli select cmhc mli. select cmhc's insurance covers full amortization period. electrical submetering energy efficiency assessment esa financing freedom of entrepreneurship interest rates and cap rates investing in mf during pandemic is your banker lying to you? knob and tube wiring mike beer mortgage broker multi family investing personal guarantees professionalism success story successful student the case for mf investing in 2023 tips
WATCH THE TRAINING

Breaking the Code of Multifamily Investing

Are you ready to break the code of multifamily investing in Canada? Sign up for our FREE three part video training Breaking the Code of Multifamily Investing. Learn the hidden secrets and game-changing magic of the multiplier effect. This FREE video training reveals how you can create more multi-generational wealth by investing in apartment buildings.

You're safe with me. I'll never spam you or sell your contact info.

"Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.” - Theodore Roosevelt, U.S. president