CMHC’s latest product - Purchase an investment property with as little as zero down

CMHC just announced changes to their small rental programme (1-4 rentals).  CMHC will insure rental property mortgages with zero down.  The programme is available for

purchase or refinance transactions. Since this programme is so new, lenders still have to announce their participation in the programme.   I am certain that within a few

weeks, there will be a few lenders that will start taking applications.

Some of the requirements of the programme include:

1) Good credit -  To qualify for zero down, applicants need a credit score of at least 680

2) Proven income - Standard income qualification rules apply.  Applicant’s Total Gross Debt Service (TDS) ratio should be less than 42%

Please watch out for further announcements on this product on our website, BCmortgage.ca .  Feel free to phone or email me if you have any questions.