The definitive guide to CMHC multi-family financing.
CMHC is Canada's sole provider of mortgage loan insurance for multi-unit residential properties (5+ units). Its programs now underpin the majority of purpose-built rental financing in the country — and the July 14, 2025 premium overhaul fundamentally changed MLI Select economics. This site synthesizes every program, every underwriting rule, and every policy change into the calculators and content the market is missing.
Growth in CMHC-insured multi-unit volume, 2021–2024
Apartment Construction Loan Program budget
Maximum loan-to-cost under MLI Select (100 points)
Maximum amortization (MLI Select tier 3)
Every CMHC multi-unit program — in depth.
90% of existing resources cover only MLI Select. This one documents every pathway — from the foundational MLI Standard insurance product to CMHC's direct lending under ACLP, AHF and CHDP — so you can choose the right structure for your project.
95% LTC, 50-year amortization, and up to 30% premium discount for 100-point projects. Now the dominant CMHC multi-unit product.
Foundational product for purchase, refinance and new construction — up to 85% LTV, 40–50yr amortization, no affordability commitment required.
Below-market fixed rates with integrated insurance. $55B program targeting 131,000+ new homes by 2031–32.
Repayable loans up to 95% LTC plus forgivable loans of $25–75K per unit (up to 40% of costs).
$1.5B — largest federal co-op housing investment in 30+ years. Repayable + forgivable up to 100% of eligible costs.
Standard CMHC insurance for 50+ unit retirement, student, supportive, and SRO projects — higher premium schedules than market rental.
The integrated calculator suite CMHC doesn't publish.
CMHC's own tools compute premiums in isolation and skip MLI Select entirely. No existing resource combines point scoring, triple-constrained loan sizing, accurate LTV-tiered premium calculation, and year-by-year cash-flow projection in one tool. Ours does.
Score affordability, energy and accessibility. See exactly which tier (50 / 70 / 100) you qualify for.
Triple-constrained: LTV/LTC, minimum DCR, and program cap. Outputs max loan, required equity, annual debt service.
July 14, 2025 LTV-tiered grid. Handles amortization, non-residential, second-mortgage, and EGI surcharges plus MLI Select discount.
MLI Select vs. MLI Standard vs. conventional — equity required, debt service, cash flow, and total financing cost side by side.
MLI Select premiums no longer flat.
MLI Select now uses the same LTV-based premium grid as MLI Standard, with percentage discounts applied (10% / 20% / 30% by tier). Amortization surcharges (+0.25% per 5 years beyond 25) now apply to MLI Select for the first time.
A 100-point project at 95% LTV with 50-year amortization now pays approximately 5.18% versus the previous flat 2.55%. Every pro forma written before July 2025 needs to be rerun.
- Integrated MLI Select point scorer + loan sizer + premium calculator in one tool
- All CMHC programs covered (not just MLI Select)
- Accurate July 14, 2025 LTV-tiered premium grid
- Cash-flow projection tool with year-by-year amortization
- Affordability rent threshold lookup by CMA
- Maintained policy change tracker with analysis
- Provincial and municipal stacking guide
CMHC uses property-income DCR, not residential-style stress tests. Learn how NOI, vacancy, reserves and management fees flow into loan sizing — and why min DCR often caps the loan before LTV does.
Read the underwriting guide →Toronto's $97K/unit affordability incentive, Vancouver's DCL waivers, Calgary's new non-market tax exemption, Ottawa's $6–8K/unit TIEGs — how to stack them with MLI Select, AHF and CHDP.
See municipal playbook →Equitable Bank ($27.5B, +175% since 2021) leads — not the Big Six. MCAP, Peakhill, First National, Peoples Trust, CMLS and the life cos all compete on speed, term, and prepayment — not rate.
Explore the lender map →