CMHC Funding – Multi Unit Projects: How We Can Help You Meet New Requirements
Are you using Canada Mortgage and Housing Corporation (CMHC) as your lender for multi-unit developments? Important changes have been made that you need to know about – and we’re here to help you navigate them seamlessly.
What’s New with CMHC?
CMHC now requires bonding (or an acceptable alternative) before releasing construction loan funds.
- New Bonding Mandate: Bonding is now a prerequisite for funding approval.
- Alternatives to Bonding: Options like letters of credit, collateral security, or reduced loan amounts may tie up cash flow, limit borrowing power, or complicate project timelines.
How We Can Support Your Success
As the top Western Canadian construction and real estate specialty brokers, we provide tailored insurance and bonding solutions to keep your project on track. Here’s how we deliver:
Comprehensive Insurance Solutions
- Being construction and real estate specialists, we can secure the right coverage for you – protecting your project from start to finish.
Tailored Bonding Services
- We offer tailored bonding solutions that meet CMHC’s new requirements that best accommodates your balance sheet.
- Our team can help you setup a bonding facility to expedite and guide you through the process, ensuring a seamless and efficient experience.
Streamlined Application Process
- Why juggle multiple providers? By handling both your insurance and bonding needs, we can significantly streamline your application process.
- We have privileged access to insurers and bonding companies with a strong appetite to support developers.
- This integrated approach can help expedite your loan approval and keep your project on schedule.
Expert Guidance
- Our team stays up-to-date with all industry changes including CMHC updates and requirements.
- We have a large network of law firms and finance partners who can help developers get their projects off the ground.
- We’ll provide clear, actionable advice to ensure your project meets all necessary criteria.
Don’t Let Red Tape Derail Your Plans
New requirements shouldn’t slow your progress. Partner with us to secure the insurance, bonding, and expertise you need to move forward efficiently. Contact us today to prepare your next multi-unit project for success.
Let’s work together to keep your developments moving forward efficiently and successfully!
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