CHSLD - Long-Term Care Hospital Center

Funding for CHSLDs * must consider the following aspects:

  • Your relevant experience of at least 5 years in the field
  • The location of the property
  • The number of units offered
  • Copy of the formal agreement with one or more CSSSs** in the region
  • The average vacancy rates
  • The physical aspect of the building and its sustained upkeep
  • Services offered to users

The percentage of funding could vary by financial institution and reach up to 85% of the lesser of cost or economic value.

The possible amortization will be limited to 25 years although it will be possible to reach 40 years under certain conditions.

The documents required by financial institutions are usually:

  • The full purchase offer and its annexes
  • Confirmation by the statement of your down payment upon purchase
  • The CHSLD’s financial statements for the past three years
  • Financial forecasts
  • Copy of the agreement with one or more CSSSs in the region
  • A recent market evaluation
  • An environmental assessment
  • Inspection report
  • The average vacancy rate for previous years
  • A certificate of compliance with government standards
  • Copy of the municipal and school tax statement
  • Copy of Hydro-Québec and Gaz Métropolitain expenses
  • Copy of the last insurance policy
  • A certificate of location less than 10 years old

As for the interest rate, you can choose a term varying between 1 and 10 years. The rate for this type of financing is not displayed by most banks. The interest rate will be defined according to the risks incurred by the financial institution according to the information provided.

The bank will also impose an acceptance fee and possibly an annual review fee that we will negotiate for you.

* CHSLD : Long-Term Care Hospital Center (Centre hospitalier de soins de longue durée)
** CSSS : Health and Social Services Center (Centre de santé et de services sociaux)


Your mortgage broker

Your mortgage broker will be your ally in order to obtain:

  • The highest percentage of financing to reduce your down payment
  • The longest amortization to reduce the impact on your cash-flow
  • The lowest possible application fees
  • Negotiating the best financing conditions on the market