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Rental Solutions

Rates & lending guidelines

Rate sheet (download PDF)
Download our rate sheet
Lending guidelines

 CWB Optimum Mortgage Rental Guidelines

Alt-A Program

Rentals up to 80% LTV on the first $1.5M and 50% on the remainder in large markets. Consideration may be provided to Rentals in small markets that are within close proximity to a large market  

Max 30 Year amortization

Max 55 GDS/55 TDS   

Purchase and Refinance eligibility

Non-Subject 80% offset  

Add back subject rentals (80%)

Max $500K Rental Income 

Airbnb for Non-subject Income can be used to qualify with 2 years history

We do not finance Airbnb property
Min 30K population. Consideration may be provided to locations that do not meet population requirements, but are in close proximity of a large market 

Alternative lending guidelines
 Loan purpose
  • Purchase and Refinance 
 Maximum LTV
  • 80% LTV
Property types
  • Single family detached (minimum 800 square feet)
  • Semi-detached (minimum 800 square feet)
  • Condominium or apartment (minimum 500 square feet)
  • Recreational properties
Lending areas
  • Lending areas within 50 km of a large urban population centre (communities with populations > 50,000)
Minimum beacon score
  • 600 Beacon 
  • 1, 2 and 3 year fixed rate (up to 30 year amortization) 
  • 5 year variable (up to 25 year amortization) 
Minimum loan amount
  • $100,000
  • $75,000 in Atlantic Canada
Maximum loan amount 
  • $750,000
Qualifications The greater of the mortgage contract rate plus 2% or the 5 year benchmark rate
Down payment
  • Minimum 20% for purchases
  • Consideration given to gifted down payments
  • Home occupied by an immediate family member or intended use of the borrower is for 50% year round occupancy
  • 25 year economic remaining life on property
  • Statutory declaration to be signed at the solicitors 
  • Early payouts permitted (may be subject to charges)
  • Opportunity to make an annual payment up to 20% of original mortgage amount, double-up payments or increase monthly payment up to 20% at any time
  • Prepayment charge is calculated as the greater of 3 months interest or the interest rate differential (using CWB posted rate, not bond rate) plus 1% of the mortgage balance
  • Mortgage is portable based on client and property qualification
  • Blend & extend options available
Consideration given to
  • Discharge and bankruptcies with 12 months re-established credit
  • Applications demonstrating orderly payment of debts
Outside our lending guidelines
  • BEACON/FICO scores less than 500
  • Unique properties
  • Previous grow-ops
  • Rent-to-own contracts
  • Farms
  • Mobile homes and/or manufactured homes
  • Rental pools
  • Cooperative housing
  • Indigenous reserve land