Max Goyzman - Apartment Financier
@maxgoyzman
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Providing Direct Apartment and Commercial Lending @ Peakhill Capital. Easily size your CMHC Mortgage at https://t.co/sRbV8jHHEy
Toronto, Ontario
Joined October 2021
Changes to CMHC MLI Select Announced: 1) Restrictions on use of insured refinance proceeds have been removed. VTBs, Private loans, can all be repaid. Equity take outs are OK. 2) Enhanced flexibility for projects built in place of existing residential structures. (cont.)
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Five year CMB has dipped under 3%. Ten year CMB is around 3.40%. Not sure if rates will stay this low for a long time. Consider ten year and these yields.
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Tomorrow we are hosting a webinar on qualifying for MLI Select with accessibility. Please join us to hear from Chris Stigas of HandiHelp as he takes us through his firm's mission and how he helps builders access CMHC's MLI Select via accessibility.
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@brianlilley @KevinVuongMP We need higher property taxes, it’s just a matter of utilising the revenue to subsidise new development. Toronto has some of the lowest property taxes in North America.
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Our fund is seeking to place capital in short term real estate bridge loan opportunities. 0-2 year loans. Interest only and open to prepayment. Multi-family, industrial, retail, etc. Please reach out 👌
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Robust US economy is propping up Cad bond yields. As it relates to apartment financing, it’s not clear if we’re going to see CMBs below 3% unless trends reverse. If rents remain stable, I can still see projects pencilling in certain markets, but not everywhere.
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CMHC has been very quick to turnaround feedback recently. If you have the right package, they're committed to providing a great service. But the expectation for packaging and due diligence is higher today. Check out to generate your loan amount and rate!
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CMHC is relying on appraised cap rates for their underwritten values.
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