CMHC MLI Select Financing
Also known as: MLI Select
CMHC mortgage loan insurance for multi-unit purpose-built rental projects. Unlocks up to 95% Loan-to-Cost financing and 50-year amortization by earning points across Affordability (below-market rents), Accessibility (barrier-free design), and Energy Efficiency (GHG reduction). Not a grant — a financing tool that dramatically reduces equity required and lowers borrowing costs. The commercial equivalent of the BRRR strategy.
Who qualifies
- Purpose-built rental residential — minimum 5 units, except retirement homes where a minimum of 50 units/beds is required
- Minimum 50 points across Affordability / Energy Efficiency / Accessibility commitments
- For NEW CONSTRUCTION specifically: 50 points = up to 95% LTC. (For existing properties, 50 points caps at 85% LTC — 95% requires 70 points. The catalog previously didn't distinguish these.)
- New construction, major renovation, or acquisition with renovation
- Borrower must be creditworthy; project must be financially viable
- Affordability points scale with how far rents sit below market per CMHC's tier definitions — confirm current thresholds with the lender
- CONFIRMED premium discount schedule (deep research, 2026-07-10, from CMHC's official Multi-unit Fees and Premiums PDF): Min. 50 points = 10.00% discount, Min. 70 points = 20.00% discount, Min. 100 points = 30.00% discount. The previous ~10%/~30% hedge is now precise. NOTE: this fact lives in a CMHC PDF, not the main HTML program page — the automated weekly drift check only monitors the HTML page, so this specific figure needs a periodic manual re-check of the PDF rather than relying on the automated system to catch changes to it.
Typical applicant
Real estate developers, REITs, housing co-ops, and sophisticated investors building or acquiring multi-family rental properties — especially those incorporating affordable units, accessible design, or green building standards to maximize points
Verified against the official program page as of 2026-07-10. Programs change — always confirm current details with the program office before committing project spend.