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For Operators Scaling 5–300+ Doors

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.

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Quick Answer

Intermediate 4 min read

CMHC MLI Select is CMHC's enhanced multi-unit mortgage insurance program for 5+ unit rental properties in Canada. It rewards affordability, energy efficiency, and accessibility commitments with up to 95% LTV, up to 50-year amortization, and a 1.10x minimum DSCR — the highest-leverage financing available to operators acquiring or building 5–300+ doors. The companion MLI Standard program offers up to 85% LTV with no points system and higher DSCR floors (1.30x on 5-year terms; 1.20x on 10-year terms).

Key Points

  • 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

Important Numbers

95%
MLI Select max LTV
1.10x
MLI Select min DSCR
85%
MLI Standard max LTV
50
Minimum MLI Select points

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 Select

Max LTV
Up to 95%
Amortization
Up to 50 years (100+ points)
Requirement
Minimum 50 affordability points

Value-add, new construction, energy-efficient or affordable housing

Learn more

MLI Standard

Max LTV
Up to 85%
Amortization
Up to 40 years
Requirement
Min DSCR 1.30x (5-yr) / 1.20x (10-yr)

Stabilized acquisitions without points pathway

Learn more

Which program fits your deal?

Can you earn 50+ MLI Select points?

Yes — through affordability rents, energy upgrades, or accessibility features

→ MLI Select

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

Are you building new rental units?

Combine ACLP construction financing with MLI Select permanent takeout at stabilization

→ MLI Select + ACLP

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

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 90% 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 structuring

How 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
Full MLI Select points scoring guide

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
CMHC green financing & energy rebate guide

MLI Calculators & Tools

CMHC MLI Select consult

Book a free CMHC financing strategy call — high LTV multifamily structuring.

Open calculator

CMHC MLI Max Loan Calculator

Upload rent rolls or enter NOI to estimate maximum CMHC loan proceeds, points tier, and amortization.

Open calculator

MLI Select Points Calculator

Score affordability, energy efficiency, and accessibility points before you apply.

Open calculator

CMHC Premium Calculator

Model insurance premiums on the July 2025 LTV grid with MLI Select tier discounts and amortization surcharges.

Open calculator

MLI Select vs Conventional Calculator

Compare CMHC-insured proceeds and debt service against conventional multifamily financing.

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MLI Case Studies

Real Canadian multifamily deals — acquisitions, conversions, new construction, and GP/LP partnerships financed through CMHC programs.

Edmonton, Alberta

95% LTV

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.
Toronto, Ontario

$2.6M Equity Created

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.
Victoria, British Columbia

100 MLI Points

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.
Calgary, Alberta

14.2% IRR

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.
Cleveland, Ohio

22% CoC

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.

Book a strategy call about a similar deal

From the Field — Scott's Experience

First-person lessons from licensed broker 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 article

Scott 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 article

Scott Dillingham

MLI Select Premium Changes After July 2025

How we restructured a 50-year amortization deal when CMHC premium tiers shifted.

Read article

MLI Select Document Checklist

Download the required appraisals, rent rolls, environmental reports, and CMHC submission documents before lender packaging.

Get the document checklist

Stay Current on CMHC Policy

Track MLI Select points thresholds, premium changes, Advice 268 rental achievement rules, and ACLP budget updates.

View CMHC policy timeline

Start Here by Investor Type

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 Application Process

From pre-qualification through CMHC approval and closing — timelines, documents, and what to expect when requirements change.

View full application timeline
FAQ

CMHC MLI Frequently Asked Questions

Browse our most frequently asked questions below.

CMHC MLI

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.
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.

Still have questions? Talk to an expert.

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