MEMBER UPDATE: March 23, 9:30AM
CMHC Funding Update
Many Canadian homeowners and renters face challenges from the COVID-19 outbreak. Market fluctuations may impact your ability to provide housing solutions to Canadians. CMHC will monitor these issues and exercise flexibility to find solutions to ensure affordability in the housing market.
If you currently have an application with CMHC:
- Teams are working to continue operations with minimal disruptions. This includes continuing to advance funds according to signed funding agreements.
- CMHC is open to finding alternatives for physical condition reviews and on-site progress validation inspections, like limiting scope to visiting the exterior of the buildings and common areas only, or in some cases suspending temporarily.
Should you have any operational challenges during this unique period, please contact your CMHC specialist to find solutions.
If you are a housing provider or co-op receiving financing or support from CMHC:
- Tools and relief measures for housing providers are available, including loan payment deferrals, capitalization, special payment arrangements, advancing flexibilities.
- Eligible housing providers who opted-in the Phase 2 of the Federal Community Housing Initiative and have federally administered operating agreements expiring in the coming months, should continue to receive their current level of financial assistance so there are limited disruptions.
- Additional information will be shared in the coming weeks. Any questions in the interim can be directed to: FCHI2-IFLC2@cmhc-schl.gc.ca.
On a case-by-case basis, CMHC will consider flexibility for subsidy suspensions for new accounts as a result of a breach in their agreements.
Any housing provider who received financing or support from CMHC, directly or via provinces and territories, should act compassionately and refrain from eviction.
To stay updated on our corporate communications, please visit CMHC’s Media Newsroom on cmhc.ca.