Multiplex Homes

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 75% LTV for 1st mortgages purchases for rental duplexes or triplexes in major urban centres.

New Haven will approve up to 70% LTV 1st mortgage refinances for rental duplexes or triplexes in a rural area.

To begin your inquiry, it is as easy as answering these 4 questions:

  • Where is the property located?
  • What is the appraised value?
  • Are there existing mortgages owing on the properly?
  • How much is needed and for what purpose?

*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, contact New Haven Mortgage Corporation.

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