Apartment property (5+ units)
Purchase, refinance, bridge or stabilization where property income supports the request.
- ✓ Current rent roll and leases
- ✓ Trailing operating statement
- ✓ Unit count, occupancy and planned work
Property financing in Markham.
Commercial, rental, construction, and alternative mortgage files in Markham are shaped by the property, the financing purpose, and the exit.
Province-wide service from our licensed Ontario brokerage. Open Financial does not maintain a local office in Markham.
The short version
Markham isn't one property market.
Markham borrowers may have salaries, incorporated businesses, family support and investment income all contributing to the same household. The challenge is rarely finding income on paper; it is showing which income a particular lender will recognize and whether it is sustainable.
The property matters just as much. A Unionville house with planned work, a condo near Highway 7 and an owner-user commercial unit need different appraisals, documents and lender desks.
Choose the file you actually have
Start with the property, not a generic mortgage form.
Business-owner property
Commercial real estate occupied or acquired by the operating business.
- ✓ Property details and intended business use
- ✓ Business financial statements
- ✓ Purchase terms or current mortgage statement
Construction or land
Land, infill, conversion or construction where timing and the next financing stage matter.
- ✓ Plans and permit status
- ✓ Line-item budget and contingency
- ✓ Current value, completed value and exit plan
Start here
Three things we would check first.
- 1
Charge layers extend beyond the City
Markham publishes City development-charge rates and identifies York Region, school-board, and area-specific charges that may also apply. Rates and indexing depend on the current by-laws and development type.
The budget should show each authority and any area-specific component. This prevents a sponsor from using only the City-wide line when calculating equity for permit or closing.
[1] Development charge rates - 2
The Official Plan directs where growth belongs
Markham’s Official Plan sets land-use and growth policies, with secondary plans and site-specific instruments providing more detailed direction. A growth designation does not itself grant a permit or establish density for one parcel.
A lender should receive the actual zoning and application status, not a transit or growth narrative alone. Land value and loan proceeds should reflect what is permitted now and what approvals remain conditional.
[2] Official Plan - 3
Heritage review can affect project scope
Markham maintains heritage districts, designated properties, and permit processes for work that can affect protected heritage attributes. Requirements depend on the property and proposed alteration.
If heritage approval changes materials, design, demolition, or timing, it can change both cost and value. Confirm designation and permit requirements before a construction budget is fixed.
[3] Heritage Property Register
A simple example
Owner-user industrial purchase with expansion plans
Illustrative only: a Markham manufacturer wants to buy its leased building and add floor area later. The company can fund the down payment but also needs cash for equipment and receivables.
The mortgage is tested against property value and sustainable business cash flow. Environmental work, building condition, current occupancy, future expansion approvals, and charge treatment are separated. The equity plan preserves a documented working-capital reserve rather than exhausting the business at closing.
This is an invented example that explains the review. It is not a client result, quote, approval, appraisal, rate, or expected outcome.
A little local context
338,503
people lived in Markham in the 2021 Census.
Markham has a high rate of home ownership and a detached-led housing stock. Those broad numbers do not replace a clear explanation of occupancy, business income or proposed renovations.
Statistics Canada counted 110,867 occupied private homes. These figures are background, not current prices, a forecast, or evidence for one appraisal.
[4] Statistics Canada 2021 Census ProfileWhat to send us
Enough to understand the file.
You do not need a perfect package to start. An address or listing and a plain explanation are useful.
The property address, listing, or a short description
The purchase price or value, amount needed, purpose, and timing
Reconcile operating-company cash flow, property occupancy, related-party rent, and guarantor strength.
Confirm zoning, site-plan, permit, environmental, and fit-up requirements before waiving financing conditions.
Use salary, dividends, retained earnings, and business financials only within a program that recognizes them.
Financing paths that may fit the property
Local questions
Questions people actually ask in Markham.
These are general answers. The municipality and lender still need to confirm the actual property and transaction.
Are Markham development charges only a City cost?
No. Markham identifies City, York Region, education, and possible area-specific charges. A current site and use calculation is needed because one published rate does not represent every amount due.
Does proximity to transit establish redevelopment value?
No. Transit context may support planning policy or market demand, but valuation and lending also require current zoning, application status, density, servicing, costs, timing, and comparable evidence.
Can business income support a Markham commercial mortgage?
Yes, under suitable lender policy, but the review usually normalizes business cash flow and tests property expenses and debt service. Corporate financials, tax returns, bank records, ownership, and the real-estate appraisal should tell one consistent story.
When should heritage status be checked?
Before waiving conditions or finalizing renovation scope. A designated property or heritage-district location may affect approvals, design, cost, and timing even when the proposed use otherwise appears permitted.
What is the risk in using a future expansion to justify today’s loan?
The expansion may still require approvals, equity, construction, and successful occupancy. Size the current transaction on supportable existing facts and present the expansion as a separately funded stage with its own downside case.
Local references
Where the local claims came from.
- [1] Development charge rates (City of Markham)
- [2] Official Plan (City of Markham)
- [3] Heritage Property Register (City of Markham)
- [4] 2021 Census Profile (Statistics Canada)
- Official city website
Research checked August 27, 2026. Municipal information changes, so confirm it for the property before relying on it. Reviewed for Open Financial by Principal Broker: Marcel Greaux, Lic. M10002478.
Nearby location guides
Start with the property
Tell us what you are trying to do in Markham.
The intake carries the city, property purpose and timing into the broker review. It is an enquiry, not an application or commitment to lend.
Garrison Capital Corp., operating as Open Financial | FSRA Mortgage Brokerage Licence #13362. Information is general and location-aware, but it is not legal, planning, appraisal, tax, or mortgage advice and does not guarantee approval, proceeds, pricing, timing, or funding.