What are the loan and property value limits for CMHC-insured mortgages?
The maximum insurable property value is $1,500,000 regardless of LTV. For small rental properties, the max insurable loan is $1,000,000 with max 80% LTV.
Key Points
For small rental properties, the max insurable value is $1,000,000 with max 80% LTV.
CMHC programs can help you buy a home you can afford, especially if you're a first-time buyer or new to Canada.
Your property must be in Canada, livable year-round, and accessible in all seasons.
Lenders look at location, market trends, and other factors to make sure your home's value is accurate when figuring out your (/glossary/loan-to-value) ratio.
Technical Research Verification
Our systems synchronized 4 data points and regulatory frameworks to verify this technical brief.
Related Questions
How does mortgage insurance enable lower down payments?
Mortgage insurance lowers the risk for lenders, allowing them to offer mortgages to borrowers with down payments between 5% and 20%.
How will lenders evaluate my debt service ratios, and what key factors are considered?
Lenders assess your ability to repay the mortgage by calculating your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios.
What property considerations impact my mortgage application?
Lenders carefully assess the property's value and characteristics, directly influencing the loan amount you can secure.
How does the 'straight switch' exemption benefit you at renewal?
The 'straight switch' exemption lets uninsured mortgage borrowers move their mortgage to a new federally regulated lender (FRFI) at renewal without needing to pass the Minimum Qualifying Rate (MQR) .