On - Reserve Housing

On - Reserve Housing

We understand the unique aspects of lending on-reserve.  Dependent on where you are looking to have your home there may be various options.  Many First Nations have developed potential for home ownership through:

  • First Nation Land Management Regime
  • Designated Lands Under the Indian Act

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In these circumstances the First Nation will have developed and membership would have voted on designating lands for specific purpose and/or providing a land code that allows for specific uses.  For the purposes of financing there needs to be a registered lease, a legal document that not only outlines the specific details of the lease agreement, including length of the lease and any payment required, but is also a legal document that can be pledged or “mortgaged” to allow lender financing on-reserve.  These types of agreements provide greater opportunity for truly “marketable” property, a home you can invest in and could potentially sell in the future.

CMHC mortgage loan insurance may be available for leasehold financing on-reserve if the lease – head lease and sublease – have been reviewed as satisfactory to CMHC.

Where there is no lease available you can still apply for a housing loan under:

  • CMHC Insured On-Reserve Housing or
  • First Nation Market Housing Fund
CMHC Insured On-Reserve financing is secured by a Ministerial Loan Guarantee (MLG) along with the guarantee of your First Nation.    

First Nations Market Housing Fund is a government backed credit enhancement agreement whereby the First Nation guarantees the loan which in turn is partially backed by FNMHF.  These loans are normally CMHC insured unless the First Nation has made alternate arrangements with the Lender in providing other forms of security to back the Band Guarantee.

Any one of our qualified lenders will be pleased to discuss you on-reserve housing options.