CMHC Policy Updates & Program Changes
Stay current with the latest changes to MLI Select, MLI Standard, ACLP, and other CMHC multifamily financing programs.
Recent Policy Updates
Bank of Canada Holds Rate at 2.25%
The Bank of Canada held its overnight rate at 2.25% on March 18, 2026 — unchanged since October 2025. CPI inflation at 1.8% with the next announcement on April 29, 2026. Stable rates continue to support multi-family deal economics.
MLI Select Points Threshold Unchanged at 50 Points
CMHC confirms the minimum 50-point threshold for MLI Select remains in effect. Investors can earn points through affordability commitments, energy efficiency upgrades, and accessibility features to unlock up to 95% LTV financing.
Advice 268 Clarification on Rental Achievement
CMHC issued updated guidance on rental achievement documentation requirements. All rents must be supported by signed leases or market appraisals prior to mortgage close—no projected rents during lease-up periods.
50-Year Amortization Confirmed for MLI Select 100+ Points
CMHC officially confirms that investors achieving 100+ affordability points on MLI Select can access 50-year amortization periods. This reduces debt service requirements and maximizes cash flow for multi-family investors.
ACLP Budget Allocation Increased to $55 Billion
CMHC announced a $55 billion total ACLP allocation (up from $40B), extended to 2031-32. As of early 2025, $23.35B committed supporting 59,000+ rental homes. Now includes student housing and independent seniors housing.
MLI Select Premium Overhaul — Risk-Based Pricing
CMHC introduced risk-based pricing for MLI Select premiums. New surcharges of 0.25% per 5-year amortization increment above 25 years — a 50-year amortization now adds a 1.25% surcharge. Energy efficiency alone can no longer reach 100 points; must combine pathways. Significant impact on deal economics for high-leverage, long-amortization deals.
Insured Mortgage Cap Raised to $1.5M & 30-Year Amortization Expanded
Effective December 15, 2024: insured mortgage price cap raised from $1M to $1.5M, and 30-year insured amortization expanded to all first-time buyers (new builds and resale) plus all new-build buyers. The boldest mortgage reforms in decades.
Key Program Parameters
| Program | Max LTV | Max Amortization | Min DSCR | Max LTC | Other Requirements |
|---|---|---|---|---|---|
| MLI Select | Max 95% | Max 50 yr | — | — | Min 50 points |
| MLI Standard | Max 85% | Max 40 yr | Min 1.10x | — | — |
| ACLP | — | — | — | Max 90% | Progress draws |
| Conventional | Max 75% | Max 25 yr | Min 1.25x | — | Full documentation |
LTV = Loan-to-Value | LTC = Loan-to-Cost | DSCR = Debt Service Coverage Ratio | yr = year
Learn More About CMHC Programs
MLI Select
Up to 95% LTV financing for multi-family properties. Earn affordability points to unlock 50-year amortization. Ideal for value-add and stabilized properties with existing cash flow.
Read the complete guideMLI Standard
Up to 85% LTV financing with 1.10x DSCR requirement. More accessible entry point for multi-family investors who don't qualify for MLI Select points.
Read the complete guideACLP
Apartment Construction Loans Program (ACLP). Up to 90% loan-to-cost for purpose-built rental development with progress draws tied to construction milestones.
Learn about construction financingMLI Max Loan Calculator
Instantly calculate maximum loan amounts, affordability points, and amortization periods for your multi-family project.
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