Multi-family mortgages —
MLI Select points scored
to maximum LTV.

Multi-Unit Insured Loan Select is CMHC's premium insurance tier for 5+ unit residential. Sponsors who commit to affordability, energy-efficiency or accessibility outcomes earn points; higher scores unlock higher LTVs (up to 95%), longer amortizations (up to 50 years), a 1.10 minimum DCR for standard rental and reduced premiums. For sponsors who can meet the commitments, it is often the highest-leverage option for 5+ unit residential.

CMHC wants to see prior multi-family ownership experience, demonstrable property management capability, and clean personal/corporate credit. First-time multi-family sponsors can often qualify by partnering with an experienced operator, by moving up from 2-4 unit residential, or via a smaller (5–20 unit) deal where the sponsor's resume can be built.

Three commitment categories: Affordability (a share of units rented at no more than 30% of median renter income for at least 10 years: 50, 70 or 100 points, plus 30 more for a 20-year commitment), Energy (for existing buildings, a 15%, 25% or 40% reduction in energy use and GHGs: 20, 35 or 50 points), and Accessibility (15%+ accessible or universal-design units in a fully visitable building: 20 or 30 points). For existing properties, 50 points allows up to 85% LTV and 40-year amortization, 70 points up to 95% LTV and 45 years, and 100 points up to 50 years with limited recourse. Source: CMHC MLI Select.

Standard is CMHC's regular multi-unit insurance: no social or environmental commitments and simpler underwriting, but lower leverage, shorter amortization and standard premiums. MLI Select trades commitments for better terms. Whether it wins for you depends on what the commitments cost (for example, foregone rent on affordable units), which we model before recommending a path.

Yes. CMHC offers MLI Select for both stabilized acquisitions and new construction. For construction, lenders typically structure construction-to-permanent: a construction loan during the build with conversion to the insured permanent loan once the asset is stabilized. New construction can reach up to 95% loan-to-cost at 50+ points under MLI Select.

Sponsor: 2 yrs T1 + NoA, 2 yrs T2 corporate financials, real estate schedule, banking, government ID, articles of incorporation, property management resume. Asset: T12 financials, rent roll, leases, current mortgage statement, insurance, property tax bill, environmental Phase 1, structural condition report, appraisal (lender-ordered). For MLI Select: signed affordability commitments, energy modelling reports, accessibility unit specifications.

Premiums are a percentage of the loan set by CMHC, based on loan-to-value, amortization and your MLI Select points tier, with reduced premiums at higher tiers (see CMHC's multi-unit fees and premiums at-a-glance). The premium itself is usually added to the mortgage, but Ontario's 8% sales tax on the premium must be paid in cash at closing. Include it in your equity budget. We compare the all-in cost against conventional alternatives on your numbers.

Yes. On existing stabilized properties, MLI Select allows up to 85% LTV at 50 points and up to 95% at 70+ points, subject to CMHC underwriting and the 1.10 DCR floor. This is one of the most common reasons sponsors switch from a conventional banker to a CMHC-specialist broker. We model the equity-release math against the cost of additional commitments before recommending the path.

Insured multi-family is usually priced as a spread over Government of Canada bond yields, and the spread depends on the lender, LTV, amortization and term. CMHC insurance generally narrows the spread compared with conventional commercial debt, while construction financing prices wider during the build. We quote current spreads on your specific file.

Realistic timeline: 90–150 days from full file submission to commitment, plus 30–60 days for conditions and closing. MLI Select adds 15–30 days vs Standard for the commitments review. Bridge → MLI Select takeout is usually faster end-to-end because the bridge funds while the CMHC application is in flight.

Yes. New PBR (purpose-built rental) projects are eligible, and on new construction a smaller share of affordable units earns the same points (for example, 25% of units at 30% of median renter income earns 100 points).

We have two paths. Path 1: Bridge into MLI Select — bridge debt funds the renovations and lease-up; the asset refinances into MLI Select once stabilized. Path 2: MLI Select with capex envelope — CMHC will sometimes finance capex inside the insured mortgage if it ties to MLI Select energy or accessibility commitments. We model both before recommending one.