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How financing works

Long-term planning is essential to the success of your asset management.   Wherever you are in this process, CHF Canada can help.

The process starts with an asset management plan to identify your co‑op’s borrowing needs, and includes any amount needed for capital work. CHF Canada’s Asset Management Services can help with this as well as other stages of the work such as building condition assessments, procurement for capital project work or design, or providing project management directly.

CHF Canada’s Financial Planning Services can help your housing co‑op take out any loan it might need for long-term capital replacements and improvements.

This may include lending to pay off an existing CMHC mortgage. Because this new financing is extended over a longer period of time, monthly payments are usually equal to or less than a co‑op’s original CMHC mortgage payments.

“It has just been fabulous. We were cooler this past summer. The new kitchens and bathrooms are fantastic, and I am so excited.” - Baily Kohls, treasurer, Preston Heights Housing Co-op

A CHF Canada financing agreement with the lender includes four main parts:

  • money for repairs and improvements (and to pay out any existing CMHC mortgage)
  • an asset management plan with an annual reserve contribution identified
  • annual reports on the co‑op’s financial performance and capital plan, and
  • facilitation by CHF Canada if the lender becomes concerned about governance, management or financial performance.

Here are some additional resources about asset management and financing.