New Mortgage Rules Make Building Triplexes and Fourplexes Easier in Calgary

Prime Minister Mark Carney’s 2026 federal budget has made it easier for builders in Calgary to finance the construction of triplexes and fourplexes by lifting the $1.5 million property value ceiling and eliminating the requirement for owners to live in one of the homes. These changes could significantly impact the housing market and benefit those looking to build more affordable, missing middle homes in the city.

For new triplexes and fourplexes, insured loans can now cover up to 90% of the property’s expected value upon completion, allowing builders to finance larger projects. This will be particularly useful for smaller builders who might have struggled with the previous restrictions. The new rules also open up more financing options for multi-unit residential properties with five to 50 units, with private mortgage insurers now able to cover up to 90% of the property's value for new construction.

While these changes are positive, they do come with certain conditions. Borrowers will still need to meet income and credit requirements, and the properties must meet specific zoning and income-to-debt ratio standards. These changes could make it easier for new housing to be built in Calgary, potentially easing the housing crunch for expats and digital nomads looking for affordable rental options.