CMHC multiplex mortgage:
a duplex from 5% down,
a triplex or fourplex from 10%.
If you live in one unit, insured financing covers a 2-to-4-unit property priced under $1.5M. The rent from the other units helps you qualify.
Four reasons the multiplex
strategy works here.
The deciding factor is almost never the rate — it's how your lender counts the rent. We test every method.
5% down on a duplex — 10% on three or four units
A duplex follows the standard insured tiers: 5% on the first $500K, 10% on the rest. A triplex or fourplex requires at least 10%. Either way, the purchase price must be under $1.5M and the loan insured by CMHC, Sagen, or Canada Guaranty.
The rent from other units helps you qualify
Rental income from the units you don't occupy is counted by your lender — either as an offset against carrying costs or as an addition to income. On the right file, that difference can be worth tens of thousands of dollars in qualifying power.
No investment-property rate premium
Because you live in one unit, this is an owner-occupied insured file — not an investment property. You get A-lender pricing, the same rate grid as a single-family purchase, without the premium lenders charge on pure rentals.
We model the rent stack for your file
Lenders differ on how they count your rental income, and the difference is often worth more than your rate. We test your file against the actual method each of our 100+ lenders applies — and place you with the one where your qualifying income lands highest.
From search to tenanted
— three steps.
Property first, income stack second, lender last.
That sequence matters.
Confirm the property
MLS listing, current rent roll or market-rent estimate. We confirm CMHC insurability, zoning, and whether the units are legally registered — the step that most applications skip and later regret.
Build the income stack
Your employment income plus the rental credit, applied the exact way each lender applies it. We pick the lender whose method leaves you needing the least household income to qualify.
Close, then lease up
Fund the property. Lease the units. Then refinance to release equity for the next purchase once the loan-to-value allows it — we model the timeline before you buy rather than after.
We've structured these files
across many scenarios.
Tap any situation below to see how we approach it.
If you’re…You're a first-time buyer wanting rent to offset your mortgage
You're a first-time buyer wanting rent to offset your mortgage
A duplex with 5% down, stacked with your FHSA and RRSP Home Buyers' Plan savings, can leave you with a monthly carry close to what a single-family home at the same price would cost — but you're building equity in a property that partly pays for itself.
Model my duplexIf you’re…You're looking at a triplex or fourplex, not just a duplex
You're looking at a triplex or fourplex, not just a duplex
CMHC insures owner-occupied 3–4 unit properties up to 90% loan-to-value — so the minimum is 10% down regardless of how the price tiers work on a duplex. Rental income from two or three units still counts toward qualifying, and you still get A-lender rates if you occupy one.
Check my eligibilityIf you’re…The rental units in your target property aren't currently tenanted
The rental units in your target property aren't currently tenanted
An appraiser provides a market-rent estimate. Lenders typically credit 50% of that estimate for qualification. We confirm what figure the lender will use before you make an offer — so the income stack isn't a guess when conditions need to clear.
Start my pre-approvalIf you’re…You own another home and want to buy a multiplex as your new principal residence
You own another home and want to buy a multiplex as your new principal residence
You can still access the insured program if the multiplex genuinely becomes your principal residence. What lenders and insurers will want is credible occupancy evidence — and we document it correctly the first time, so the file doesn't stall at underwriting.
Discuss my situationIf you’re…You want to run the portfolio play: buy, occupy, then eventually refinance
You want to run the portfolio play: buy, occupy, then eventually refinance
The strategy is real — but the timeline is driven by loan-to-value math, not by a 12-month goal. On a 5%-down file the balance takes years to drop below 80% of value without appreciation. We model the actual paydown curve before you buy so the plan is grounded.
Model my timelineIf you’re…Your target property is priced near the $1.5M insured limit
Your target property is priced near the $1.5M insured limit
$1.5M is a hard ceiling, not a pricing tier. Above it, the insured program is unavailable at any down payment — you need at least 20% down under a conventional file. Rental income still counts, but you lose the insurance premium and get conventional pricing. We run both scenarios if the price is close.
Compare my optionsRental offset or add-to-income:
which qualifies you for more?
Same duplex. Same rent. Same buyer. Different lender method — and a gap of $7,600 in required income.
| Method | How the rent is credited | Household income needed |
|---|---|---|
| No rental unit | Nothing to credit — a single-family purchase at the same price | $198,000 |
| 50% rental offset | $1,100/mo comes off the carrying cost before the ratio | $164,000 |
| 100% add-to-income | $26,400/yr goes onto gross income | $171,600 |
Illustrative only — computed at an illustrative 3.94% insured 5-year fixed rate (as of September 2026), stress-tested at 5.94%, 25-year amortization, Ontario property tax. Not a rate offer. On this file the 50% offset method needs $7,600 more household income than the 100% addition — the ranking is file-specific and we model yours against each lender's actual method.
Common questions,
clear answers.
Down payment tiers, rental income methods, the $1.5M cap, and portfolio timing — answered plainly.
What is the minimum down payment on a triplex or fourplex?
At least 10%. CMHC insures owner-occupied 3-4 unit purchases up to 90% loan-to-value, so the 5% tier is not available on them. A duplex (or single-family home) follows the usual tiers: 5% of the first $500,000 and 10% of the portion above it. Either way the purchase price must be under $1.5M.CMHC
Do I have to live in one of the units?
Yes — owner-occupancy is a CMHC requirement for the insured program. If you don't occupy, it becomes investment property (20% min).
How is rental income counted?
Lender-dependent, and the difference is worth real money. A 50% offset subtracts the rent from the property's carrying cost before your ratios are taken; a 100% addition adds it to gross income. Because the offset lands on the cost side it is worth about 2.56× face value, so on the worked file above a 50% offset actually beats a 100% addition. Which wins depends on the offset percentage and the lender's exact treatment — we test yours against each.
What if the units aren't currently rented?
An appraiser provides a market-rent estimate. Lenders typically use 50% of that estimate for qualification.
Can I do this as a first-time buyer?
Yes. First-time buyers can combine FHSA and RRSP Home Buyers' Plan savings for the down payment and use rent from the other units to help qualify.
Can I do a duplex if I own another home?
Yes, if you will live in the duplex as your principal residence; the insurer and lender will want occupancy evidence. If you will not live there, it is an investment property (20% down, no insured option).
Are 5+ units the same?
No — 5+ unit is multi-family commercial, financed under CMHC MLI Select with different rules and rates. Better cashflow, harder to qualify.
What cap rate should I target?
There is no single right number: cap rates move with the market, the neighbourhood and the building's condition. On an owner-occupied multiplex the more useful test is whether the rent from the other units covers enough of the carrying cost for you to qualify and stay comfortable. We model both with you for any prospect.
What credit score do I need, and where can the down payment come from?
An insured multiplex is underwritten to the same baseline as an insured single-family purchase: the insurers require a minimum credit score of 600 on at least one borrower, and most A-lenders want to see 680 or better before they price their sharpest. The down payment can come from savings, the FHSA, the RRSP Home Buyers' Plan, or a gift from an immediate family member on a signed gift letter confirming the funds are not repayable. What is different from a single-family file is not the money — it is the occupancy evidence and the legal status of the units, which is where these applications actually get stuck.
What if the property is over $1,500,000?
Then the insured program is not available at any down payment — $1,500,000 is a hard purchase-price ceiling for mortgage default insurance, not a pricing tier. Above it the file is conventional: a minimum of 20% down ($300,000 on a property right at the ceiling, more above it), no insurance premium to finance, and conventional rather than insured pricing — which is usually slightly higher, because the lender is carrying the risk rather than the insurer. Rental income still counts toward qualification in the same way. This matters most in Toronto and other markets where legally multiplex-zoned property routinely clears the ceiling.
We’ll try to beat your rate.
If we can’t, we pay you $500.¹
¹ Rate Beat: eligible Big-6 bank written offers only · same product, term & amount · $500 paid to you or your nominated charity at closing · conditions apply
Find a multiplex specialist in your city
CMHC insured multiplex rules are national, but the properties that qualify — and the lenders who price them best — vary considerably by market. Find an advisor who knows your city's inventory and lender landscape.