If you are buying, refinancing, or building a rental property of five units or more, CMHC's MLI Select is worth knowing. It is an insured financing program from CMHC (Canada Mortgage and Housing Corporation) that rewards affordability, energy efficiency, and accessibility with more favourable terms. Here is how it works and what to weigh.
Built for rental buildings of five units and up.
Committing some units to affordable rents earns points.
Meeting energy performance targets earns points.
Accessible units and features earn points.
As insured financing, terms can be stronger than conventional, subject to eligibility.
More points can support more favourable terms, such as higher leverage and a longer amortization (the years to repay), which can help a project pencil out. Available terms are set by CMHC and the lender.
Points come with commitments you maintain for a set period, like affordable rents or energy targets, and the application is more involved than a conventional file. Eligibility and approval rest with CMHC and the lender.
Bring us the property and your plans, and we will look at whether MLI Select or a conventional path fits best, with one team managing the file. A licensed member of our commercial team will follow up.
Start a conversationInformation here is general and educational. It is not financial, legal, or lending advice, and it is not an offer of financing. CMHC MLI Select is subject to program rules, point requirements, eligibility, and CMHC and lender approval, and program terms can change. Points carry ongoing commitments. Any figures, points, or terms are illustrative only. All financing is subject to lender review, property review, and supporting documentation. Submission of a form does not guarantee approval or financing.