What Is CMHC MLI Select? A Smarter Way to Finance Multi-Unit Housing in Canada

If you're a real estate developer or investor looking to finance affordable, accessible, and energy-efficient rental housing in Canada, CMHC's MLI Select program might be the advantage you're looking for.

With support for up to 95% loan-to-value, amortization periods as long as 50 years, and flexible underwriting for developers committed to affordability, energy efficiency, and accessibility, MLI Select turns financing into a strategic advantage.

What Is CMHC MLI Select?

CMHC MLI Select is a mortgage loan insurance product created to encourage the development and preservation of affordable, climate-compatible, and accessible rental housing.

It applies to:

• New builds

• Acquisitions

• Refinancing of existing rental buildings

• Major renovations

This isn’t just another loan insurance plan—it’s a policy designed to reward impact-driven developers and reduce financing friction.

🔗 See the official CMHC MLI Select resource →

MLI Select Program Overview

Feature	Benefit
Loan-to-Value (LTV)	Up to 95% for both new and existing residential projects
Amortization Period	Up to 50 years
Eligible Property Types	Rental housing, SRO, retirement, supportive, student housing
Loan Purpose	Purchase, construction, refinance, renovations
Min. Project Size	5 units (50+ for retirement)
Debt Coverage Ratio (DCR)	As low as 1.10 for rental housing
Borrower Requirements	5+ years experience or third-party management + min. 25% net worth
Accessibility to Non-Profits	Yes, with flexibility on recourse and guarantees

How Do You Qualify?

Projects must earn at least 50 points across three categories to qualify:

• Affordability

• Energy Efficiency

• Accessibility

Category	Max Points	Highlights
Affordability	100 pts	Units priced ≤30% of median renter income. Bonus for 20+ year commitment.
Energy Efficiency	50 pts	Reductions or improvements over NECB/NBC codes or baseline utility usage
Accessibility	30 pts	CSA B651:23 compliance or Rick Hansen Foundation certification

Benefits at Each Points Tier

Points Achieved	Max LTV	Max Amortization	Recourse	Rental Holdback
50+ points	95%	40 years	Full (standard)	May apply
70+ points	95%	45 years	Full	Optional
100+ points	95%	50 years	Limited (select cases)	May be waived

Understanding MLI Select Interest Rates

When you're financing a multi-unit development, every percentage point matters. With CMHC’s MLI Select, the structure goes beyond just rates — it’s a financing strategy designed to reward intention. If your project supports affordability, energy efficiency, or accessibility, you don’t just qualify for extended amortization or higher leverage — you also unlock reduced insurance premiums.

Insurance Premiums by LTV

Loan-to-Value (LTV)	Indicative Premium Rate
Up to 65%	2.60%
Up to 70%	2.85%
Up to 75%	3.35%
Up to 80%	4.35%
Up to 85%	5.35%

Note: Premiums are subject to borrower profile, deal structure, and CMHC approval.

Project Scenarios That Benefit

• Affordable Housing Developers: Access higher leverage without sacrificing long-term stability.

• Private Equity Firms or Funds: Reduce capital contribution and boost IRR.

• Non-Profits and Co-ops: Potential for reduced personal guarantees with limited recourse.

• ESG-Focused Builders: Align mission with real financial benefit.

Frequently Asked Questions

Can I use MLI Select for a refinance?

Yes, you can use it for refinancing existing buildings, including those undergoing energy retrofits or affordability renewals.

Is this only for affordable housing?

No. As long as your project earns 50+ points through any combination of affordability, accessibility, or efficiency, you can qualify.

Can I use it for mixed-use developments?

Yes, but non-residential space must be ≤30% of the gross floor area and value.

How We Help at Seventy Seven Park

We work with developers, brokers, and institutional clients to:

• Assess and structure MLI Select applications

• Maximize point scoring

• Align capital stacks with lender expectations

• Package applications to minimize processing delays

Looking at MLI Select for your next project?📩 Book a free consultation now

Let’s Talk Strategy

If you're ready to unlock better terms for your next multi-unit project, we’ll guide you through the MLI Select process from end to end—from feasibility to funding.

(416) 350-8448

info@seventysevenpark.ca