Refinanced a ~$1,500,000 CMHC-Insured MLI Standard Rental Housing loan for an 8-unit apartment building in Woodstock, Ontario, optimizing cash flow and supporting future investments.
Foundry Mortgage Capital is pleased to announce the successful refinancing of a ~$1,500,000 CMHC-Insured MLI Standard Rental Housing loan for a 2-storey, 8-unit rental apartment building in Woodstock, Ontario.
Key Highlights:
✔️ 80% Loan-to-Value
✔️ 40-Year Amortization
✔️ 4.25% Fixed Interest Rate
✔️ Refinanced Existing Mortgage (previously at Prime + 1.20% per annum)
✔️ Equity Takeout to support future investments
The funds were used to repay the existing mortgage and provide additional capital through an equity takeout, helping our client optimize cash flow and unlock greater value in their investment.
Most CMHC / National Housing Act-approved lenders have a minimum loan amount of $5,000,000 — with many starting at $10,000,000 — often leaving smaller deals overlooked. At Foundry Mortgage Capital , we leverage our volume and strong lender relationships to ensure deals of all sizes get funded, delivering the best possible results for our clients.
Thank you to our client for trusting Foundry with your capital needs, and congratulations to Akshay Gupta for expertly closing this deal.
If you’re exploring CMHC-insured construction or term financing for your multifamily properties, connect with our team today.
%402x.svg)
%402x.svg){kind=icon}