Market Rental — the foundational CMHC insurance product.
MLI Standard is CMHC's baseline multi-unit insurance product for properties with five or more self-contained rental units. It covers purchase, refinance, and new construction at market rents with no affordability commitment required — making it the default starting point for for-profit rental investors who don't want to take on MLI Select's scoring obligations.
Non-residential space is capped at 30% of gross floor area and gross rental income. A 1.00% premium surcharge applies to the non-residential portion. Maximum LTV is 85% across all transaction types. Amortization reaches 50 years for new construction (extended June 2024) and 40 years for existing rental refinance or purchase.
Premiums were restructured on July 14, 2025 into an LTV-tiered grid (replacing earlier flat rates). That grid is shown in full below and is the same underlying schedule MLI Select now uses before applying its tier-based discount.
Underwriting at a glance.
The core MLI Standard underwriting parameters. Minimum DCR varies by unit count, transaction type, and term length.
Minimum Debt Coverage Ratio
CMHC sizes loans on the lower of LTV and DCR. Minimum DCR varies by property segment and transaction type.
| Segment | Minimum DCR |
|---|---|
| 7+ units, term ≥10yr | 1.20 |
| 7+ units, term <10yr | 1.30 |
| 5–6 units, purchase | 1.10 |
| 5–6 units, refinance | 1.20 |
The LTV-tiered premium grid.
On July 14, 2025 CMHC replaced flat MLI Standard premiums with a risk-based LTV-tiered grid. Purchase and refinance use one schedule; new construction sits one tier higher to reflect build-out risk. Premiums below assume EGI was met.
| LTV Band | Premium |
|---|---|
| ≤65% | 2.60% |
| ≤70% | 2.85% |
| ≤75% | 3.35% |
| ≤80% | 4.35% |
| ≤85% | 5.35% |
| LTV Band | Premium |
|---|---|
| ≤65% | 3.25% |
| ≤70% | 3.75% |
| ≤75% | 4.25% |
| ≤80% | 5.00% |
| ≤85% | 6.00% |
Premium surcharges
Surcharges stack on top of the LTV-band premium.
Per 5 years beyond 25-year amortization.
Applied pro-rata to the non-residential share of the loan.
Applied where CMHC-insured second financing is in place.
Applied when effective gross income falls short of the underwritten figure at stabilization.
Refinancing an already-insured loan.
When refinancing a loan that already carries CMHC insurance, the borrower receives a premium credit against the new premium. The credit is highest (75%) in year 1 after the original insurance was put in place and declines each year thereafter, leveling at 20% from year 7 onward.
The credit is applied to the new premium owing — it does not reduce the loan amount or refund the original premium.
| Years since insured | Premium credit |
|---|---|
| Year 1 | 75% |
| Year 2 | 60% |
| Year 3 | 50% |
| Year 4 | 40% |
| Year 5 | 35% |
| Year 6 | 25% |
| Year 7+ | 20% |