# What are the rules for 'Undivided' co-ownership financing?

> Undivided condos cannot be high-ratio insured (CMHC).

Category: Regulatory
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/regulatory/what-are-the-rules-for-undivided-co-ownership-financing

## Answer
Undivided condos cannot be high-ratio insured (CMHC). Therefore, they require a minimum 20% down payment. Additionally, all owners in the building usually must use the same lender (often Desjardins or National Bank) because the hypothec covers a percentage of the entire building rather than a specific unit.

## Related guide
- https://ratellow.com/guides/quebec-mortgage-civil-law

## Sources
- FCAC Guide: Quebec Mortgages — https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html#toc3
- B-20 Quebec Standards — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#2.3.3