Whether you are buying your first apartment building or adding to a portfolio, multi-unit and mixed-use properties, where residential and commercial space share one roof, are financed mainly on the income the property produces, not on you alone. With the Halifax apartment market active, here is what shapes these files and the insured options worth knowing.
Net operating income (NOI): the rent left after operating costs, before financing.
DSCR: whether that income covers the payments, with room to spare.
The residential and commercial split. Mixed-use ratios change how a deal is viewed.
These properties usually call for more equity than a home. Terms vary by deal.
Condition, location, tenants, and lease terms across the units.
For qualifying rental buildings, CMHC insured financing, including MLI Select, may be available to review.
Most multi-unit and mixed-use deals are conventional (standard lender financing). For qualifying rental buildings, CMHC insured options, including the MLI Select program (an insured multi-unit program with tiers for energy efficiency and affordability), may be available to review and can suit the Halifax apartment market. Mixed-use adds a layer, since lenders weigh the residential and commercial portions differently. Any figures are illustrative only.
Where a conventional path does not fit, alternative lenders may be considered, and private lending is one option to review, never a default or a recommendation. When it is considered, we explain the cost and the exit clearly before you commit.
Bring us the property and the numbers. A licensed member of our commercial team will follow up. We arrange financing through our team and the national TMG The Mortgage Group network.
Start a conversationInformation here is general and educational. It is not financial, legal, or lending advice, and it is not an offer of financing. CMHC and other insured options are subject to program eligibility and are framed here as options that may be available, not guarantees. Private lending is one option to review and is not suitable for every situation. Any figures are illustrative only. All financing is subject to lender and property review and supporting documentation. Submission of a form does not guarantee approval or financing.