Mobile Homes
Anyone intending to purchase a manufactured (mobile / modular) home as their principal residence may be eligible for the Mobile Homes CMHC Program. It is an ongoing program and will be subject to review.
Eligible Homes
New, resale or existing units situated on owned or leased land. Market value estimates may include site servicing costs that typically make up part of the purchase price. Includes single and multiple widths certified under CSA-Z240 and CSA-A277 standards, and modular units certified under CSA-A277 standards. Existing units must meet CMHC standards and need not be certified under CSA-A277 or CSA-Z240 standards.
Loan Amounts
Maximum 95% of lending value (lesser of purchase price or appraised market value). Funds advancing procedures have been modified to be consistent with regular principal residence guidelines. Single and progressive advances are available on new construction.
Other Features
Ammortization to 25 years or “remaining life”, whichever is shorter. GDS to 32% including principal, interest, taxes, heat & pad rental TDS to 40%
