More mortgages in canada... who will lend the most residential mo

[Evan McLeish]

Who in Canada can lend the most mortgages or doors ? RBC does up to 7 residential mortgages.

National used to do 16 but they are out of the game now

[Roy N.]

@Evan McLeish

It changes from time to time depending on a lender's portfolio mix and their appetite for a certain kind of financing.   As an example, this is the first I head of RBC allowing seven residential mortgages ... for years they bowed out at five (not five from them ... five in total).   Conversely, they will/would fund a six unit building under a residential mortgage, which meant you needed to be strategic.

Similarly, CIBC will/would fund a 5-unit property as residential and would allow up to ten mortgages in total ... though the liquidity requirements as you approach ten are a little silly.

TD and Scotiabank have shifted between five and seven mortgages since we've been dealing with them.

It's been our experience that, regardless the lender, things get more challenging after seven mortgages and for ten residential mortgages we were advised of minimum liquidity requirements ranging from 200K to over 500K ... kind of silly to be asked to hold 250K liquid when you are seeking a financing of 150K :-|