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Webinar Recording: Section 61 co-op mortgages: CMHC Prepayment Flexibility (50 minutes)

CMHC is accepting applications for mortgage prepayment flexibility for co-ops with Section 61 program operating agreements. The final deadline is September 30, 2018. On July 9, 2018, CHF Canada held a webinar to explain this opportunity to interested Section 61 co-ops. We also discussed how CHF Canada Asset Management Services can help you identify and plan needed renovations and improvements and how CHF Canada’s refinancing program can assist your co-op obtain new financing needed to do the work. Download the slides here.

Reimagine your co-op

Every housing co‑op begins with a dream.

First, it’s the dream of getting your co‑op off the ground, of creating an affordable, attractive and democratic community where people come first.

As your co‑op develops and matures, the dream turns to making your co-op even better.That means eventual repairs, renovations and improvements. But those things cost money.

Imagine your co-op with new:

  • kitchens
  • windows
  • siding
  • paving
  • roofing and more.

CHF Canada’s Refinancing Program help co-ops renew and reimagine their buildings.

With the Refinancing Program, your co-op can:

  • pay off an existing loan
  • obtain new credit union financing, and
  • finance needed renovations and repairs.

Many co‑ops have already taken advantage of this program. We can help you determine whether it will work for you. We provide expertise and assistance in identifying your co‑op’s borrowing needs. Then we work with a credit union to secure the right financing.

For more information, contact our Refinancing Program Manager, Dave Howard, at 1-800-268-2537 ext. 239 or dhoward@chfcanada.coop.

CHF Canada and Newmarket Co-op have always had a great relationship and we are forever grateful to them for that and for all their support in our refinancing journey and whatever may lay ahead. - Mandy Lord, board member, Newmarket Housing Co-op, Newmarket, ON