The Canada Mortgage and Housing Corporation (CMHC) is officially pivoting to support factory-built construction to combat Canada’s housing supply crisis. The new ‘CMHC Prefab Plus’ product allows homebuyers to secure insured financing with a minimum down payment of just 5%, featuring a flexible four-stage draw structure that aligns with the realities of modular assembly. This is a significant development for the GTA, where developers and buyers alike are looking for ways to bypass traditional construction delays. Furthermore, CMHC has expanded its modular insurance coverage to all multi-unit projects, including the MLI Select program, following a successful pilot. By streamlining financing for off-site builds, this move aims to accelerate timelines—potentially cutting years off development cycles as seen in recent Calgary projects. For a deeper dive into how these policy shifts could impact your next real estate investment or home purchase, read the full report at https://www.mpamag.com/ca/mortgage-industry/industry-trends/cmhc-opens-insured-financing-to-prefabricated-and-modular-homes/574469.
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