This model is an independent estimate produced by DoBuild Proforma Studio. Premium and fee figures follow CMHC’s published multi-unit schedule, but loan sizing, underwriting value and program eligibility are determined solely by CMHC and the Approved Lender. Lender-side charges are market estimates, not published CMHC figures. Nothing here is a commitment, quote, or approval.
Condominium
Presales, deposits and the registration cliff
Condominium shares the elemental cost spine with every other building. What it does not share is the cash. Sales pace sets the shovel date, deposits stay with the trustee unless insured, buyers occupy before they own, and nearly all the money arrives in one month. Every field ships empty.
Peak capital
$0
Month 0
Registration
—
Start —
Margin
$0
0.0%
Readiness
10%
IRR 0.0%
Stage 1
Project setup
Units plus common elements. One registration, one cliff.
Ontario is the modelled pack: Condominium Act framework, ten-day rescission, statutory deposit trust, Tarion warranty layers and Section 37.
Financing eligibility
Conventional and cash only. CMHC multi-unit insurance and ACLP both require rental housing owned and operated by the borrower; ACLP states condominiums for sale are explicitly ineligible. No DCR is displayed on this product — there is no stabilised NOI to test against.
The cash curve
Trough, then the registration cliff
Sales drive the schedule
Construction start is derived, never entered
Construction financing does not release until the presale covenant is met, so the shovel date moves with the sales pace. Change the pace and watch every downstream month move with it.
Construction start
—
0% sold vs 0% required
Registration
—
Occupancy from —
Deposits
Trust-locked unless insured
Without a policy, purchaser deposits sit with the trustee until registration and cannot pay a single invoice.
Revenue to profit
Waterfall
Is leverage worth its cost?
Cash-to-cash vs loan-structured
Identical inputs, one toggle. In cash mode the presale threshold stops being a funding gate — you still need presales for market validation and for ECDI, but nothing withholds your own money.
| Cash-to-cash | Loan-structured | |
|---|---|---|
| Peak capital | $0 | $0 |
| Peak equity | $0 | $0 |
| Peak debt | $0 | $0 |
| Total interest and fees | $0 | $0 |
| Profit | $0 | $0 |
| Profit on cost | 0.0% | 0.0% |
| Return on equity | 0.0% | 0.0% |
| IRR | 0.0% | 0.0% |
| Equity multiple | 0.00× | 0.00× |
| Horizon | 12 mo | 12 mo |
| Construction start | — | — |
| Months of pre-construction carry | 0 mo | 0 mo |
What actually moves the answer
Sensitivity
Price and proceeds are two numbers
Per-unit metrics
Readiness