MLI Select
Up to 95% LTV · Up to 50 years (100+ points). Minimum 50 affordability points.
- Up to 95%
- Up to 50 years (100+ points)
- Minimum 50 affordability points
CMHC MLI Select: Up to 95% LTV Multifamily Financing
CMHC MLI Select is high-LTV multifamily financing for 5+ unit Canadian rentals — up to 95% LTV and 50-year amortization. Book a free CMHC financing strategy call, or run the max-loan calculator to size your deal.
CMHC MLI Max Loan Calculator
Enter your property income, expenses, and financing details to calculate your MLI Select and MLI Standard max loan amount.
Compare commercial mortgage rates for CMHC vs conventional, then book a strategy call.
Official program details: CMHC MLI Select · points and premium schedule: CMHC multi-unit insurance.
MLI Select Rates Today
LendCity™'s estimate, quote-dependent: the 5-year Canada Mortgage Bond yield plus a spread band. It is not a quote, and not a rate published by CMHC or any lender.
| 5-year CMB yield | 3.80% |
|---|---|
| LendCity™ MLI Select estimate | 4.85%–5.60% |
| Spread over CMB | 1.05%–1.80% |
| Data as of | October 7, 2026 |
MLI Select Insurance Premium by Points Tier
Effective premium (purchase or refinance, standard rental housing) at each tier's maximum LTV and amortization, with no surcharges other than amortization. Based on CMHC's schedule effective July 14, 2025. Your actual premium depends on the file.
| Points | Max LTV (existing / new construction) | Max amortization | Premium discount | Effective premium |
|---|---|---|---|---|
| 50+ | 85% / 95% | 40 years | 10% | 5.49% |
| 70+ | 95% / 95% | 45 years | 20% | 5.72% |
| 100+ | 95% / 95% | 50 years | 30% | 5.18% |
| MLI Standard | 85% | 40 years | 0% | 6.10% |
MLI Select vs MLI Standard
Both programs insure multifamily mortgages through CMHC. The right choice depends on your points potential, property cash flow, and hold strategy.
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Can you earn 50+ MLI Select points?
Yes — through affordability rents, energy upgrades, or accessibility features → MLI Select
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Is the property stabilized with strong NOI but no points pathway?
MLI Standard may be faster with 85% LTV and DSCR 1.30x (5-yr) or 1.20x (10-yr) → MLI Standard
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Are you building new rental units?
Combine ACLP construction financing with MLI Select permanent takeout at stabilization → MLI Select + ACLP
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Need maximum leverage on a value-add or conversion?
Bridge first, then refinance into MLI Select at stabilization for up to 95% LTV → Bridge → MLI Select
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MLI Select max LTV
MLI Select: up to 95% LTV, 50-year amortization with 100+ points, 1.10x min DSCR
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MLI Select min DSCR
MLI Standard: up to 85% LTV, 40-year amortization; min DSCR 1.30x (5-yr) / 1.20x (10-yr)
Book a CMHC financing strategy call
MLI Select vs MLI Standard
Both programs insure multifamily mortgages through CMHC. The right choice depends on your points potential, property cash flow, and hold strategy.
MLI Standard
Up to 85% LTV · Up to 40 years. Min DSCR 1.30x (5-yr) / 1.20x (10-yr).
- Up to 85%
- Up to 40 years
- Min DSCR 1.30x (5-yr) / 1.20x (10-yr)
Developer
Ground-up rental construction with ACLP draws and MLI Select permanent takeout.
- New construction case study (Victoria)
- ACLP construction guide
- Application process
Acquirer
Stabilized or value-add apartment acquisitions using MLI Select or Standard.
- Edmonton 24-unit MLI Select deal
- MLI Select vs Standard guide
- Run max loan calculator
Refinancer
Extract equity or lower debt service by refinancing into CMHC-insured permanent debt.
- Toronto office conversion case study
- Multifamily refinance programs
- MLI vs conventional calculator
Book a CMHC financing strategy call
MLI Select LTV, Amortization & Premium Tiers
Financing benefits scale with your MLI Select points score. Figures reflect CMHC's July 14, 2025 risk-based pricing model.
Eligibility
- MLI Select: up to 95% LTV, 50-year amortization with 100+ points, 1.10x min DSCR
- MLI Standard: up to 85% LTV, 40-year amortization; min DSCR 1.30x (5-yr) / 1.20x (10-yr)
- Minimum 5 rental units; rental income must be documented at close (Advice 268)
- LendCity™ structures acquisitions, refinances, new construction takeout, and GP/LP syndications
Points pathways
- MLI Select Affordability Criteria: Rent threshold: 80% of MMR, published annually by CMHC
- MLI Select Affordability Criteria: 20% of units for 10 years earns roughly 20–30 points; 60% for 20 years earns 70–100 points
- Energy Efficiency Points Pathway: Heat pumps are the heavyweight earners — 15–25 point impact alone
- Energy Efficiency Points Pathway: Triple-pane windows, upgraded insulation, and HRV/ERV systems each add 5–20 points
MLI Select LTV, Amortization & Premium Tiers
Financing benefits scale with your MLI Select points score. Figures reflect CMHC's July 14, 2025 risk-based pricing model.
| Program / tier | Max LTV | Max amortization | Premium discount | Min DSCR |
|---|---|---|---|---|
| MLI Select — 100+ points | Up to 95% | Up to 50 years | 30% | 1.10x |
| MLI Select — 70 points | Up to 95% | Up to 45 years | 20% | 1.10x |
| MLI Select — 50 points | Up to 85% | Up to 40 years | 10% | 1.10x |
| MLI Standard | Up to 85% | Up to 40 years | None | 1.30x (5-yr) / 1.20x (10-yr) |
A 0.25% premium surcharge applies for every 5-year amortization extension beyond 25 years — a 50-year amortization adds 1.25% to the base premium.
How the July 2025 premium changes affect deal structuringHow MLI Select Points Are Scored
Three categories — affordability, energy efficiency, and accessibility — are each worth up to 100 points. You need 50 points to qualify and 100+ for maximum benefits.
MLI Select Affordability Criteria
Affordability points come from committing a percentage of units to rents at or below 80% of CMHC's Median Market Rent (MMR) for a defined period. In markets like Edmonton and Calgary, the threshold often sits at or above actual market rents — points with little income sacrifice.
- Rent threshold: 80% of MMR, published annually by CMHC
- 20% of units for 10 years earns roughly 20–30 points; 60% for 20 years earns 70–100 points
- Commitments are binding — CMHC monitors compliance for the full term
Energy Efficiency Points Pathway
Energy points are based on performance improvement over the National Energy Code for Buildings (NECB) — percentage improvement for new construction, demonstrated reduction for retrofits. A 10–15% improvement earns roughly 10–20 points; 40%+ can earn 60–80 points or more.
- Heat pumps are the heavyweight earners — 15–25 point impact alone
- Triple-pane windows, upgraded insulation, and HRV/ERV systems each add 5–20 points
- Certified energy modelling ($3,000–$8,000 at design stage) verifies your score
MLI Calculators & Tools
Size max loan, score points, and compare programs before your strategy call.
CMHC MLI Select consult Book a free CMHC financing strategy call — high LTV multifamily structuring. CMHC MLI Max Loan Calculator Upload rent rolls or enter NOI to estimate maximum CMHC loan proceeds, points tier, and amortization. MLI Select Points Calculator Score affordability, energy efficiency, and accessibility points before you apply. CMHC Premium Calculator Model insurance premiums on the July 2025 LTV grid with MLI Select tier discounts and amortization surcharges. MLI Select vs Conventional Calculator Compare CMHC-insured proceeds and debt service against conventional multifamily financing.
MLI Case Studies
Real Canadian multifamily deals — acquisitions, conversions, new construction, and GP/LP partnerships financed through CMHC programs.
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Ontario Investor Scales into Alberta Multifamily
An experienced Ontario investor used CMHC MLI Select affordability points to acquire a 24-unit Edmonton apartment building with just 5% down — preserving capital to buy a second building the same year.
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Office-to-Residential Conversion in Toronto
A husband-wife development team used bridge financing to convert a vacant Toronto office building into 40 residential units, then refinanced into CMHC permanent debt — extracting $1.15M cash at stabilization.
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First-Time Multifamily Developer in Victoria
A residential builder transitioned to purpose-built rental development, using ACLP construction financing and MLI Select with a perfect 100-point score to achieve 50-year amortization on a 60-unit project.
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GP/LP Partnership for a 48-Unit Calgary Apartment
An experienced multifamily operator structured a GP/LP partnership for a 48-unit Calgary apartment with 8 limited partners contributing $1.6M in equity, projecting 14.2% annualized returns over a 5-year hold.
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Toronto Investor Builds US Portfolio with DSCR Loans
A Toronto marketing director used US DSCR loans that qualify on property cash flow to build an 8-property Cleveland portfolio generating 22% cash-on-cash returns — all without US credit or income.
Prefill jumps you into a CMHC MLI consult — bring your doors, NOI, and target city.
From the Field — Scott's Experience
First-person lessons from licensed mortgage agent Scott Dillingham on closing CMHC MLI Select files — Alberta acquisitions, bridge-to-CMHC conversions, and navigating July 2025 premium changes.
Scott Dillingham
What I Learned Closing MLI Select Deals in Alberta
Affordability points, lender selection, and why Prairie math beats Ontario pro formas on 95% LTV files.
Read articleScott Dillingham
Bridge-to-CMHC: The 90-Day Playbook
Step-by-step bridge financing into CMHC permanent debt — based on our Toronto office-to-residential conversion.
Read articleScott Dillingham
MLI Select Premium Changes After July 2025
How we restructured a 50-year amortization deal when CMHC premium tiers shifted.
Read articleStart Here by Investor Type
From pre-qualification through CMHC approval and closing — timelines, documents, and what to expect when requirements change.
Developer
Ground-up rental construction with ACLP draws and MLI Select permanent takeout.
Acquirer
Stabilized or value-add apartment acquisitions using MLI Select or Standard.
Refinancer
Extract equity or lower debt service by refinancing into CMHC-insured permanent debt.
Passive LP
Limited partners evaluating syndicated multifamily deals with CMHC leverage.
MLI Select Document Checklist
Download the required appraisals, rent rolls, environmental reports, and CMHC submission documents before lender packaging.
Get the document checklistStay Current on CMHC Policy
Track MLI Select points thresholds, premium changes, Advice 268 rental achievement rules, and ACLP budget updates.
View CMHC policy timelineMLI Application Process
From pre-qualification through CMHC approval and closing — timelines, documents, and what to expect when requirements change.
View full application timelineNew construction advantage
New buildings can be drawn for MLI Select points. Affordability, energy, and accessibility go into the plans, so the extra cost is usually smaller than a later retrofit.
- Design the points in: below-market rents, energy performance, and access are in the drawings from the start.
- An existing shell is harder. Catching up on energy and access is often too expensive for the points you get back.
- Use MLI Select on new construction, or on a renovation that was already the business plan. Otherwise MLI Standard is usually the practical program.
LendCity™ estimates MLI Select with 100+ points at 4.85%–5.60% as of October 7, 2026 (5-year CMB 3.80% + 1.05%–1.80%); conventional commercial is the 5-year CMB plus a lender spread, quote-dependent. Commercial mortgage rates
Deal examples
A few files already published on this hub. Open the case study for the story. This list does not restate project budgets.
How to apply
Six moves from the team to the permanent loan. The linked page has the full timeline.
- Assemble the team. A brokerage that closes MLI Select, plus design and energy people who can score the points.
- Design for points. Lock affordability, energy, and accessibility into the plans before anyone applies.
- Pre-qualify. A CMHC-approved lender reviews net worth, liquidity, and the rent story before a formal submission.
- Submit the file. Drawings, a points summary, rent commitments, and the borrower's financials.
- CMHC review. Expect questions. A commitment letter follows only if the file clears.
- Build, lease up, and take out. Stay inside the approved plans, hit the rents you underwrote, then close permanent financing.
Mistakes that stall a file
These are the misses that stall a file or push it toward MLI Standard.
- Designing the building first and bolting on affordability, energy, or accessibility only after CMHC asks. That restart is what blows the calendar.
- Treating the file like a residential close. Energy models, pre-qualification, and CMHC review stack. A complete submission is not a first sketch.
- Sending a thin net-worth package: old returns, missing statements, or asset values nobody can tie out.
- Using a house broker who knows insured residential mortgages but has not closed multifamily MLI Select.
- Ordering the energy model after the drawings are frozen, then finding the building misses the efficiency target.
- Filing formally with CMHC before a CMHC-approved lender has said the sponsor and the rents are in range.
- Assuming an older building hits a high points score with a mechanical swap. Retrofits are often too expensive unless that work was already the plan.
Borrower requirements
CMHC-approved lenders look for multifamily, construction, or property-management experience, or a partner who has it. Newer sponsors often pair their capital with an operator who has closed similar buildings. Experience and the financial picture are read together. One does not replace the other.
Typical range on a file of this size, not a CMHC rule.
- 8-unit file: about $500,000–$600,000 net worth and about $210,000–$240,000 liquidity (cash, equity, and reserves).
- 20-unit file: about $2.16 million net worth and about $865,000 liquidity.
Policy
Program rules move. Read the updates page before you treat an older example as current.
More questions
Does a strategy call pull my credit?
A strategy call with LendCity™ is not itself a hard credit pull. LendCity™ is the brokerage, not the lender. The CMHC-approved lender may pull credit later, when you authorize a formal application.
What does LendCity™ cost?
LendCity™ is a mortgage brokerage, not a lender. Agents operate under Mortgage Architects (FSRA #12728). The brokerage fee depends on the file and on whether the lender pays it. See the fee schedule
What if my file is declined?
A decline from one CMHC-approved lender is not a CMHC ban. Look at the points, the borrowing entity, liquidity, and whether MLI Standard fits, then approach another approved lender if the file still makes sense. Some deals need a redesign before a second submission is worth the reports.
I already have several mortgages. Can I still apply?
Already having several mortgages does not by itself block MLI Select. The lender still underwrites experience, net worth, liquidity, and the property's debt service, and your other payments have to leave room for this loan. Bring the full mortgage list when the file starts so gaps show up before you pay for reports.
Sources
Confirm the program page, then the running notes, before you rely on a figure.
Investor learning path
Pick the stage that matches your file — then follow the links.
First rental through door four — learn, underwrite, get approved.
Past the four-mortgage wall — portfolio structure and the next acquisition.
Canadians buying US cash-flow — DSCR, entities, and state playbooks.
5+ units, CMHC MLI, development takeout, and capital plans.
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Questions About MLI Select vs MLI Standard
Everything you need to know about mli select vs mli standard.
CMHC MLI Frequently Asked Questions
MLI Select (also searched as CMHC MLI Select) is CMHC's points-based multi-unit mortgage insurance for 5+ unit Canadian rentals. Affordability, energy, and accessibility points unlock up to 95% LTV, up to 50-year amortization, and a 1.10x minimum DSCR. It is not a posted CMHC interest rate — approved lenders set the coupon; CMHC sets insurance rules and premiums.
CMHC MLI Select is CMHC's enhanced multifamily insurance program for 5+ unit rental properties in Canada. Sponsors earn points through affordability, energy efficiency, and accessibility commitments. A minimum of 50 points unlocks higher leverage (up to 95% LTV at top tiers); 100+ points can extend amortization to 50 years. Minimum DSCR is 1.10x. Book a free CMHC strategy call to see if your deal qualifies.
The MLI Select program is the points-tier companion to MLI Standard. You need at least 50 points to enter. Higher tiers cut the insurance premium (10% / 20% / 30% at 50 / 70 / 100 points) and, at 100+ points, allow 50-year amortization. Minimum DSCR stays 1.10x on Select. This hub is the head-term page for MLI Select and CMHC MLI Select queries.
MLI Select uses a points system to unlock higher leverage (up to 95% LTV) and longer amortization (up to 50 years) with a 1.10x minimum DSCR. MLI Standard offers up to 85% LTV with up to 40-year amortization and no points — but requires a higher DSCR: 1.30x on 5-year terms and 1.20x on 10-year terms. The 1.10x floor applies to MLI Select only, not Standard.
MLI Select requires a minimum debt service coverage ratio (DSCR/DCR) of 1.10x. That 1.10x minimum is Select-only. MLI Standard requires 1.30x on 5-year fixed terms and 1.20x on 10-year fixed terms.
CMHC requires a minimum of 50 points to qualify for MLI Select. Scoring 70+ points typically improves premium pricing; 100+ points unlocks the maximum 50-year amortization period.
Yes, with MLI Select and at least 50 affordability points. This means as little as 5% equity on acquisitions and refinances of eligible 5+ unit rental properties, subject to lender and CMHC underwriting.
Programs & Eligibility
MLI Select with 100+ points allows up to 50-year amortization. MLI Standard allows up to 40 years. Conventional multifamily financing is typically capped at 25 years.
With MLI Select (50+ points), minimum equity is 5% (95% LTV). MLI Standard requires 15% down (85% LTV). Conventional multifamily lenders typically require 25%+ down.
Per CMHC Advice 268, rental income used in underwriting must be supported by signed leases or independent market appraisals at mortgage close. Projected lease-up rents are not counted in the debt service calculation.
Typical timelines run 60–120 days from complete lender submission to CMHC approval, depending on property complexity, points scoring, and document completeness. Pre-qualification and points assessment should begin before you go firm on a purchase.
Yes. Stabilized properties can refinance into MLI Select if they meet points thresholds and rental achievement requirements. Bridge-to-CMHC strategies are common for conversions and value-add projects that need time to stabilize.
CMHC insurance premiums vary by LTV, amortization length, and program. MLI Select uses risk-based pricing — longer amortizations above 25 years add surcharges. Your lender can model exact premium costs against interest savings from higher leverage.
On July 14, 2025, CMHC moved MLI Select to a risk-based pricing model. The minimum score is now 50 points, premium discounts are 10%, 20%, and 30% at the 50-, 70-, and 100-point tiers, and a 0.25% surcharge applies per 5-year amortization extension beyond 25 years — so a 50-year amortization adds 1.25% to the base premium.