Financing to add a legal secondary suite — including the federal Secondary Suite Loan and CMHC refinancing options.
Free quick-reference guide (PDF, courtesy of TRREB). Save or print for easy reference.
⬇ Provincial Guide on Second Units (PDF)Adding a legal secondary suite can create rental income and help with affordability. Programs include the federal Canada Secondary Suite Loan Program (low-interest financing up to $80,000, announced 2024/2025) and CMHC refinancing that lets owners access equity to build a suite.
| ✓ Homeowner adding a self-contained legal secondary unit |
| ✓ Unit meets municipal zoning and building-code requirements |
| ✓ Meets lender/program criteria |
| ★ Low-interest financing (up to $80,000 federal program) |
| ★ Refinance up to 90% of the improved value (CMHC) |
| ★ Creates rental income / multi-generational living |
| → Confirm your municipality permits a second unit |
| → Get permits and design a code-compliant suite |
| → Apply for financing through your lender |
Common questions about this program.
Yes — a legal secondary suite requires building permits and must meet fire/zoning code.
Contact Tej Thakor, Broker of Record at Royal LePage Terra Realty, for professional real estate guidance across the GTA and surrounding areas — in English, Hindi & Gujarati.
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