- Joined
- Dec 5, 2007
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Hi All,
If I recall correctly, Mr. Thomas Beyer mentioned in a previous thread that insuring an apartment building (say 10-plex with 2 commercial units/stores) with CMHC allows you to get residential financing conditions and this includes the option to get a variable interest rate mortgage instead of fixed rate which you must take unless you are CMHC insured.
Is this still the case or have the rules changed making it much more difficult to get a variable rate mortgage for an apartment building EVEN WHEN CMHC INSURED?
THANKS.
If I recall correctly, Mr. Thomas Beyer mentioned in a previous thread that insuring an apartment building (say 10-plex with 2 commercial units/stores) with CMHC allows you to get residential financing conditions and this includes the option to get a variable interest rate mortgage instead of fixed rate which you must take unless you are CMHC insured.
Is this still the case or have the rules changed making it much more difficult to get a variable rate mortgage for an apartment building EVEN WHEN CMHC INSURED?
THANKS.