Mortgage loan insurance — single room occupancy
Mortgage insurance for single-room housing projects
Record updated
- Funding available
- Varies by project
- Deadline
- Unspecified
- Location
- Canada
- Who can apply
- Borrowers or co-borrowers seeking mortgage insurance for eligible single room occupancy projects.
- See full eligibility
Overview
Mortgage Loan Insurance: Single Room Occupancy offers mortgage insurance to borrowers building, buying or refinancing single private rooms in multiple-tenant buildings. It supports short- or long-term housing projects with shared bathrooms and may include co-living arrangements.
At a glance
Funding available
Varies by project
Eligible candidates
- Location
- Canada
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- All groups
- Legal structures
- All legal structures
Receipt of requests is now closed
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Availability timeline
Eligibility
Who is eligible?
- Borrowers or co-borrowers seeking mortgage insurance for eligible single room occupancy projects.
Who is not eligible
Projects subject to a prohibition under the Prohibition on the Purchase of Residential Property by Non-Canadians Act are ineligible.
Activities funded
- Build, buy or refinance single private rooms in multiple-tenant buildings.
- Short- or long-term housing projects, including co-living, with single private rooms and access to shared bathrooms.
How to apply
- Fill out the Certificate of Insurance — application form.
Documents Needed
Lender-authorized insurance request, equity evidence, appraisal and rent roll, borrower financial and experience records, transaction-specific documents, and a market study where required.
Selection criteria
CMHC assesses loan-to-value and debt-coverage ratios, borrower experience, net worth and required guarantees.
Processing and Agreement
Construction financing requires cost verification, a fixed-price or construction-management arrangement, and CMHC approval of initial and final advances.
Additional information
- Co-living is a shelter model in which tenants share amenities such as cooking and laundry facilities while maintaining private sleeping quarters, some of which may have separate ensuites.
Official sources
