New CMHC Rental Property Program - 100% financing and 95% refinaning has just been introduced by CMHC. For the first time in many years, CMHC is now insuring rental properties.

While present at the REAG monthly meeting with Ozzie Jurock on Monday November 5th, 2007 to update investors in the Real Estate Market, and we were updated by Meridian Canadian Mortgages on a new CMHC program that just launched. This program has us very excited as it provides a way to use CHMC to purchase revenue properties with as little as 0% down!

This program Features insured loans from CMHC for RENTAL PROPERTIES:

1) Purchase Rental Properties – Loan to Value ratios up to 100%
2)  Refinance Rental Properties – Loan to Value ratios up to 95%
3) no application fee or lender appraisal requiredIn a nutshell the new program benefits you (the investors) in the following ways:
2) RENTAL OFFSETS (The income of the house will be added to your income!)
3) 40 year amortization rates (cheaper mortgages)

The new Canadian Mortgage and Housing Corporation rental property product has opened the doors to wealth creation via real estate. For the first time, you can attain 100% insured mortgage financing on a rental property.
For those who already own rental properties, you can now refinance your rental property purchase up to 95%.
You can purchase up to 100% loan to value for one unit; duplex units, triplexes four-plexes would be up to 90% financing.
Line of credit and Interest only mortgages are available up to 90% and standard variable rate loans are also available up to 90% loan-to-value mortgages.
Good credit is a must for this program. If cash flow is a concern you can amortize up to 40 years, thereby reducing your monthly payment. Newcomers to Canada, Self-Employed borrowers and also corporate borrowers are all eligible.
The CMHC 1-4 rental incentive will also consider rental income to qualify for income to qualify for the loans.

The program is very efficient and there is one lender out there doing it.

For more information contact us and we can engage you with this product!
This is a great way to acquire that rental property with low or even zero money down!