2015 - A tough year for investors in Canada in terms of Financing?

[Filipe Matos]

Hi all, I am finding very hard to get proper financing for residential deals with A lenders, 20% down and rates lower than 4%.

it seems that since mid 2014 it is impossible to get lending from A lenders (big 5 banks) at preferred rates (+-3%) for investors that have more than 1.5 million in mortgages, even if the number of mortgages is only 2.

This is what I found:

RBC: they have a limit of 1.2 million for residential mortgages and low rates (<3%)

BMO: they require 30% down instead of 20% for non owner occupied properties

CIBC: unlimited mortgages with 20% down, but properties need to cash flow, which in Toronto is impossible upon purchase.

Other banks don't even respond since I have I high dollar amount in mortgages  

 The Best solution I found until now was going with a B lender that will charge 4% to 5% in interest with 20% down. This becomes quite costly, making commercial lending almost more viable at 3.5% rates with 30 to 35% down, meaning, moving from residential purchases to building purchases.

Anyone with the same issue?