Duplex and Triplex

As a “true equity” lender, the approval is heavily weighed on the overall marketability of the real estate. Such things as location, condition & loan to value are major factors to consider when reviewing a file for approval.

There are several other factors that are taken into consideration when reviewing the property:

  • Vicinity to train tracks
  • Solar panels
  • Vicinity to windmills
  • The surrounding area (industrial or commercial?)

The above items would have a negative impact on the overall marketability of the property. It may cause a scale back on the overall LTV approval.


For this particular property type, location is even more important as your borrower will typically want to attract renters. There may be more consumers looking to rent in major urban centres vs rural areas. For example, there are potentially more renters in close vicinity to universities, shopping centres, schools, and hospitals.

New Haven will approve up to 80% LTV 1st or 2nd mortgages for rental duplexes or triplexes in major urban centres.

New Haven will approve up to 75% LTV 1st or 2nd for rental duplexes or triplexes in a rural area.

To inquire about a refinance, it is as easy as these 4 questions:

  • Where is the property located?
  • How much is it worth?
  • What is owing against it and with which lender(s)?
  • What do you need?

To inquire about a purchase, please provide the following:

  • Where is the property located?
  • What is the purchase price?
  • What is the property type?
  • How much is the down payment?

*Other information will be required for final approvals such as rental acknowledgment(s) and assignment of rents*

To inquire about a duplex or triplex residence, please email us at inquiries@newhavenmortgage.com

A number of aspects play into an appraisal and loan application for a construction project
Some Tarion exceptions may be made
No formal credit or income requirements required