CMHC commercial mortgages
Has anyone delved into the CMHC commercial mortgage process yet?
I am looking at more and more at jumping in to a 6 plex+ property. There is so much optimization that can be done in quebec as well as many properties have not yet been renovated from 70+ years.
My main question is how does the property quality figure into their calculation?
Do properties with only month to month leases get heavily discounted on how much mortgage they will extend?
I hear mixed numbers with some people telling me I can, with 500K down get up to a 2.5M (80%ltv) mortgage while others tell me I will be lucky to find a property around the 1.5M range at this level of downpayment because of the way they calculate the economic value.
Can anyone help me understand the economic value calculations?