New Federal Budget Housing Announcements

- small rentals with maximum 4 units -

5% Down Payment • Owner Occupied High Ratio (Insured) Mortgage

15% Down Payment • Non-Owner Occupied Lender fees and special pricing apply

5% down payment for owner occupied properties will include basement rentals. Approval is subject to GE/CMHC qualifying criteria.

Alternative lending 15% down payment for non-owner occupied properties. Product features are as the following:

• 1-Year or 2-Year Term Mortgage at Posted Rates + 2%
• Amortization period up to 35 years
• Lender fees required
• Rental income must be 20% greater than payments of PIT + condo fees (if any).
• 100% rental offset
• Property type: non-owner occupied condos, single family, duplex, triplex and fourplex
• Lending area: GTA, Barrie, Cambridge, Guelph, Kitchen, London, Waterloo, Bolton & Ancaster