For a limited time, S61 co-ops can apply to pay out their high-interest Canada Mortgage and Housing Corporation (CMHC) mortgages without penalty. To do so, they will have to qualify for a loan from the private market where they will enjoy the benefit of lower interest rates. (Loan applicants will be
In July 2018, we reported on CMHC’s National Housing Co-Investment Fund as an opportunity for Agency clients. Interest in this loan and grant program is growing; to date Canada Mortgage and Housing Corporation (CMHC) has received in excess of 200 applications since April. In response to feedback
Canada Mortgage and Housing Corporation (CMHC) invites all federally-administered housing providers to complete a survey which will help inform the development of options for the Federal Community Housing Initiative (FCHI) Phase 2 that will be implemented starting April 1, 2020. Federally
We are happy to share the news that CMHC has changed its position on surcharges for post-1991 ILM Co-ops in British Columbia and Alberta.
CMHC previously decided that co-ops in the program must continue to collect a surcharge if they have an operating agreement, even though their ILM mortgage has
In March 2024, Canada Mortgage and Housing Corporation hosted a national housing conference on the theme “Unlocking Solutions Together,” which was attended by housing professionals from across the country, including the Agency’s CEO, Olga Tasci. CMHC has recently released a report entitled What We
A housing co-operative is a democratically controlled association formed to provide housing for its members. The typical Canadian housing co-operative owns houses or apartments and rents them to members for an indefinite period of time on a non-profit basis. When a member moves out, their membership
28% of Agency clients lost no money to vacancies last year. Good, if this means members chose to stay in their units. Bad, if new members moved into units that hadn’t been refreshed.