Terrible time to find renters right now.
The only way I can see you do this is..
1. Find a home you want to buy.
2. Have someone you know buy it + get the mortgage.
3. Have someone move in there and sign a lease.
4. Go to the bank with the house owner and tell them you want to assume their mortgage and show them a copy of the signed lease. (if they see an already signed lease, they will count that as part of your income and will feel safer giving you a 2nd mortgage).
5. If mortgage approval goes through, change title to your name through a lawyer.
But yeah, talk to your bank and see what they say first.
Your other option is to ignore CMHC, and just pay their "fine" on top of your mortgage. I'm guessing this is allowed also.
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