Calgarypuck Forums - The Unofficial Calgary Flames Fan Community
Old 03-31-2021, 12:42 PM   #1
bizaro86
Franchise Player
 
bizaro86's Avatar
 
Join Date: Sep 2008
Exp:
Default Mortgage on Age Restricted Building?

Are there any issues with getting a mortgage on an age restricted condo building? I seem to recall that maybe CMHC wasn't willing to insure properties with that restriction? Anyway, any thoughts on the matter would be appreciated!

I own in an 18+ building that I'm thinking of selling, and if its likely to be an issue for potential buyers I'm going to try and get the bylaws changed.
bizaro86 is offline   Reply With Quote
Old 03-31-2021, 12:44 PM   #2
DownhillGoat
Franchise Player
 
DownhillGoat's Avatar
 
Join Date: Jan 2010
Exp:
Default

Isn't that restriction going away anyway?
DownhillGoat is offline   Reply With Quote
Old 03-31-2021, 11:04 PM   #3
bizaro86
Franchise Player
 
bizaro86's Avatar
 
Join Date: Sep 2008
Exp:
Default

Quote:
Originally Posted by DownhillGoat View Post
Isn't that restriction going away anyway?
Yes. After a 15 year transition period that started in 2018. 2033 is longer than I want to wait if its an issue.

https://www.catalystcondos.com/blog/...our%20province.

If I decide to try and convince the other owners the fact that the change is going to be legally mandatory anyway will definitely feature in the argument.
bizaro86 is offline   Reply With Quote
Old 04-03-2021, 07:36 AM   #4
albertGQ
Franchise Player
 
Join Date: Jan 2004
Exp:
Default

Sagen and Canada Guaranty will insure age restricted condos
albertGQ is offline   Reply With Quote
The Following User Says Thank You to albertGQ For This Useful Post:
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -6. The time now is 06:18 PM.

Calgary Flames
2021-22




Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Copyright Calgarypuck 2021