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RBC offers innovative solutions to assist your community members in achieving their dreams of home ownership.

Whether you wish to provide non-profit housing, or support the growth of private home ownership in your community, RBC provides four financing options that can help:

On-Reserve Non-Profit Housing

This program, offered through Canada Mortgage & Housing Corporation (CMHC), assists First Nations in the construction, purchase and rehabilitation, and administration of suitable, adequate and affordable rental housing projects on-reserve.

RBC provides loans to First Nations governments for non-profit housing on reserve provided the loan is CMHC-insured and guaranteed by the Minister of Indian and Northern Affairs Canada (INAC).

All First Nations are eligible to apply, although IINAC must first approve a First Nation's application for a Ministerial Guarantee.

For more information about non-profit housing on reserve, contact an RBC Aboriginal Market Manager.

 

Loan Insurance Program On-Reserve with Ministerial Loan Guarantee

This program, offered through Canada Mortgage & Housing Corporation (CMHC), assists First Nations governments and individuals living on-reserve with the ability to access financing for the construction, purchase and/or renovation of single-family homes or multiple residential rental properties.

RBC offers loans to First Nations governments and individual borrowers living on reserve provided the loan is CMHC-insured and guaranteed by the Minister of Indian and Northern Affairs Canada (INAC).

RBC will work with you and/or individual borrowers during the loan application process and will process the completed application through CMHC.

For more information about the loan insurance program with ministerial guarantees, contact an RBC Aboriginal Market Manager.

 

RBC On-Reserve Housing Loan Program

Since 1999, RBC has offered the On-Reserve Housing Loan Program to many First Nations across Canada. The goal is important yet straightforward: help more families enjoy the many long-term benefits of home ownership.

There is no ministerial guarantee required. RBC works with First Nation governments to develop the program’s general framework and eligibility requirements, and also to administer the program.

Once your community’s application for admission to the On-Reserve Housing Loan Program is approved, community members can then apply to RBC for a loan based on their needs and ability to take on the loan payments. Then, the purchase, building and/or renovating can begin.

For more information about the On-Reserve Housing Loan Program, contact an RBC Aboriginal Market Manager.

 

Leasehold Mortgages

Many communities are designing land use plans to capitalize on economic opportunities and to provide housing options for both community members and non-members alike.

First Nations may do this using a variety of mechanisms, such as:

  • Self government
  • First Nations Lands Management Act
  • Designation process under the Indian Act

First Nations can assemble the land for development and then opt to lease the lots — or build for lease — duplexes, residential housing, condominiums, etc.

Many communities are structuring their land tenures to allow for social and mid-market housing for community members only. However, many see tremendous benefit in sharing the lands with the community at large.

Where lands are shared with members and non members (also referred to as market housing), RBC can provide financing to the purchaser of the property to be located on leased land through a leasehold mortgage. The lands and the leases must be insurable through the Canada Mortgage and Housing Corporation (CMHC) and some mortgages may require default insurance.

For more information about leasehold mortgages, contact an RBC Aboriginal Market Manager.