*UPDATE* - Word from a CMHC rep is that this currently is only available for new construction and not conversions (although not clearly stated on the website). Will keep you updated if there are any changes.
Awesome info (as always) Andy! I would love to hear a success case for this loan. In my experience, any government based loans or grants have too many hoops to jump through making it near impossible to achieve. One wonders what they do with all the un-allocated funds?
Great video, Andy! and thanks for the update. What will be interesting is what lenders will do when people are looking to sell these fourplexes etc as separate condos in the future.
If a lot is 5500 sqft and within the new TOA radius allowing for FSR of up to 4.0, what would best be built on that land in terms of # of units and sqft of each unit
*UPDATE* - Word from a CMHC rep is that this currently is only available for new construction and not conversions (although not clearly stated on the website). Will keep you updated if there are any changes.
Awesome info (as always) Andy! I would love to hear a success case for this loan. In my experience, any government based loans or grants have too many hoops to jump through making it near impossible to achieve. One wonders what they do with all the un-allocated funds?
Thanks! Yes always a lot of hoops to jump!
Great video, Andy! and thanks for the update. What will be interesting is what lenders will do when people are looking to sell these fourplexes etc as separate condos in the future.
I think condoizing make sense to allow people to get equity in housing.
Can you highlight financing options for homeowners interested in garden suites in one of your next videos?
As I know, minimum amount is 3 million!
If a lot is 5500 sqft and within the new TOA radius allowing for FSR of up to 4.0, what would best be built on that land in terms of # of units and sqft of each unit
Sorry we are unable to answer that here
great video! Is 4plex+ garden suite eligible?
It appears they are now more focused on new builds. Hopefully this will change.
THIS IS A CRIME