Why Financing a Co-Op Property in Canada Isn’t Like Getting a Mortgage

Slide 1:
You don’t actually own the unit — you own shares in a co-op corporation instead.

Slide 2:
Because there’s no property title, lenders can’t register a normal mortgage — financing works differently.

Slide 3
Credit unions are usually your best bet, using share pledges and security agreements under PPSA rules.

Slide 4:
Expect bigger down payments — usually 20% to 35% — and limited lender options compared to condos.

Slide 5:
Co-op boards must approve buyers, so delays happen — plan extra time, legal review, and patience.