Financing a plex in Chomedey: down payment and rental income
The plex remains one of the best springboards into ownership in Laval: you live in it, tenants pay part of the mortgage. But you still have to finance the right amount, the right way.
Quick answer
In short: in Chomedey, the plex (2 to 5 units) is an active segment — median price $903,562, sales +32% over 12 months (Centris, APCIQ). If you live in one of the units (1 to 4 units), it is financed like a home: reduced down payment (insured-mortgage cap raised to $1.5M since Dec. 2024) — about $65,400 on that median price, versus $180,712 (20%) as a pure investment. Rental income from the other units helps you qualify.
Chomedey is one of the Laval areas where multi-unit housing is part of the landscape — the triplexes and fourplexes on the streets east of Boulevard Curé-Labelle, a legacy of the postwar boom. In Q1 2026, the plex (2 to 5 units) traded at a median price of $903,562, with sales up 32% over twelve months (Centris, APCIQ) — a clear sign of appetite for the "I live in it, my tenants help me pay" approach. But a plex is not financed like a condo: the down payment, the qualification and the lender's analysis all change. See also Financing a home in Chomedey.
Owner or investor: two down-payment regimes
It all comes down to one question: will you live in the building?
- You occupy a unit (1 to 4 units). The building is treated as a home: reduced down payment, in tiers (5% on the first $500,000, 10% above). Since December 15, 2024, the insured-mortgage cap rose from $1M to $1.5M, bringing back into play plexes that were excluded. On Chomedey's median plex at $903,562, the minimum down payment is around $65,400.
- You don't live there (pure investment). It is financed as an income property: a down payment of at least 20%, with no residential-style mortgage insurance. On the same $903,562, that is about $180,712.
The gap — about $65,400 versus $180,712 — is why so many first-time buyers in Laval start with a plex they occupy: it's the most affordable door into rental real estate.
Interactive tool
Your down payment, owner or investor
Enter the plex price. Compare the two regimes live.
Indicative estimate. The insured owner-occupier regime covers 1 to 4 units under the $1.5M cap; above that, or for 5 units and more, other rules apply. Have your eligibility confirmed by a broker.
Rental income in your qualification
This is the plex's trump card: rent from the other units helps you qualify. The lender adds part of the rental income to your qualifying income — often half, sometimes more depending on the program and lender. In practice, a household that would not qualify for a $900,000 single-family home can qualify for a plex at the same price, because two or three rents boost the income counted. That is the whole logic of the "purchase that partly pays for itself" — provided the rents, leases and expenses hold up under analysis.
What changes when you finance a plex
- The analysis is about the building as much as you. The lender looks at current leases, actual rents, expenses and the building's condition — not just your credit file.
- The inspection counts double. Roof, plumbing, electrical, unit separation: across several units, a bad surprise costs more. A home inspector is an ally, not a formality.
- Profitability is a calculation. Rents, taxes, insurance, maintenance, vacancy: the deal has to hold up even when something goes wrong. Better to check before the offer.
Each of these pieces affects how much a lender will approve and on what terms. That is exactly the kind of file a mortgage broker builds with you, putting several lenders in competition — backed when needed by a real estate broker and a chartered appraiser in Laval to frame the income property's value.
Frequently asked questions
What down payment for a plex in Chomedey?
If you live in one of the units (1 to 4 units), the plex is financed like a home: reduced down payment, in tiers (5% on the first $500,000, 10% above). On Chomedey's median plex at $903,562, that is about $65,400. As a pure investment (you don't live there), budget 20%, or about $180,712.
Does rental income count toward qualifying?
Yes. The lender can add part of the rental income from the other units to your qualifying income — often half, sometimes more depending on the program and lender. That is what makes a plex attainable despite a high price.
Can a mortgage on a plex above $500,000 be insured?
Yes. Since December 15, 2024, the insured-mortgage cap rose from $1M to $1.5M, making owner-occupied plexes eligible for insurance at prices that were previously excluded. Confirm eligibility based on the number of units and occupancy.
Does a 5-unit plex follow the same rules?
No. Owner-occupied residential financing covers 1 to 4 units. From 5 units up, you move to multi-residential financing (different rules, down payment and insurance). The number of doors changes everything — discuss it before making an offer.
