CMHC Changing Rules for Rental Properties

The rules around the income from rental units considered in home loan applications submitted to the CMHC are changing.

The agency announced Monday that, from September 28, it will allow 100 per cent of the rental income from a unit to be considered for new loan applications submitted to it for mortgage insurance.

That means that a secondary rentals suite’s income, minus costs including property taxes, will boost the size of the loan that buyers can secure.

Read more here.

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