Commercial mortgage rates Canada — get a custom quote
See today's commercial mortgage rates for multi-family, CMHC, and investment deals in Canada — then book a free strategy call for a custom quote from 50+ lenders.
Multifamily sponsors: see CMHC MLI Select, DSCR loan Canada, and the live CMB tracker.
Rates last reviewed:
Live CMB tracker → · Historical chart →
Residential 1–4 unit term coming due? Use the investment property renewal guide. Commercial and CMHC MLI renewals stay on LendCity™.
Commercial Mortgage Rates by Financing Type
Rate ranges below reflect typical July 2026 market conditions for stabilized Canadian commercial properties. Actual quotes depend on deal strength, LTV, and lender competition.
| Financing Type | Typical Rate |
|---|---|
| CMHC MLI Select (100+ points) | 4.25% – 5.00% |
| CMHC MLI Standard | 4.50% – 5.25% |
| Conventional (A lender) | 5.00% – 6.50% |
| Conventional (B lender) | 6.50% – 8.50% |
| Bridge / interim | 7.00% – 12.00% |
| Private / MIC | 7.00% – 12.00% |
CMHC-Insured vs Conventional Commercial Rates
The financing path you choose can save $45,000+ per year in interest on a $3M mortgage. CMHC insurance backstops the lender, unlocking lower spreads and higher leverage on qualifying multi-family deals.
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CMHC MLI Select
Max LTV Up to 95%. Amortization Up to 50 years. New construction or acquisition of 5+ unit rentals hitting affordability/energy points
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CMHC MLI Standard
Max LTV Up to 85%. Amortization Up to 40 years. Stabilized apartment buildings without points requirements
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Conventional Commercial
Max LTV Up to 75%. Amortization Up to 30 years. Office, retail, industrial, mixed-use without CMHC eligibility
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Private / Bridge
Max LTV Up to 80%. Amortization Interest-only common. Construction, value-add, or deals outside bank guidelines
Which Rate Path Fits Your Deal?
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Is it a stabilized apartment building with 5+ units?
CMHC MLI Standard or MLI Select will likely deliver the lowest rate and highest leverage.
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Are you building new purpose-built rental with energy/affordability commitments?
MLI Select unlocks 95% LTV and premium discounts — often 0.25%–0.50% below MLI Standard.
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Is it office, retail, industrial, or mixed-use without CMHC eligibility?
Conventional A-lender financing at 5.0%–6.5% with strong NOI and DSCR 1.20+.
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Do you need speed, construction funding, or flexible underwriting?
Bridge or private lending at 7%–12% — plan a takeout to CMHC or conventional at stabilization.
Rates by Property Type (2026)
Lenders price every asset class differently. Multi-family with CMHC insurance consistently delivers the lowest rates; hospitality and land carry the highest premiums.
| Property Type | CMHC-Insured | Conventional |
|---|---|---|
| Apartment / purpose-built rental (5+ units) | 4.25% – 5.25% | 5.25% – 6.50% |
| Mixed-use (residential over commercial) | 4.50% – 5.50% | 5.50% – 7.00% |
| Industrial / warehouse | N/A | 5.75% – 7.25% |
| Office (Class A urban) | N/A | 6.00% – 7.50% |
| Retail (anchored strip) | N/A | 6.00% – 7.50% |
| Hotel / hospitality | N/A | 7.50% – 10.00% |
Commercial Mortgage Rates by Province
Regional lender competition and rental fundamentals affect pricing. Ontario and BC typically see the tightest spreads on multi-family CMHC deals.
| Province / Market | CMHC Range | Conventional Range |
|---|---|---|
| Ontario (Toronto / GTA) | 4.25% – 5.00% | 5.25% – 6.25% |
| British Columbia | 4.25% – 5.25% | 5.50% – 6.75% |
| Alberta (Calgary / Edmonton) | 4.50% – 5.25% | 5.50% – 6.50% |
| Quebec (Montreal) | 4.50% – 5.50% | 5.75% – 7.00% |
| Atlantic Canada | 4.75% – 5.50% | 5.75% – 7.25% |
How Commercial Rates Are Priced
Unlike residential mortgages with posted rates, commercial rates are bespoke. Lenders start with the bond yield for your term, then add a spread based on deal risk.
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Benchmark bond yield
5-year GoC yield (currently ~3.20%) sets the floor for 5-year fixed commercial rates
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Lender spread
Typically 1.0%–2.5% above bond yield depending on property type, LTV, and sponsor strength
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CMHC premium discount
MLI Select points can reduce insurance premiums, effectively lowering your all-in rate
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Your quoted rate
Bond yield + spread − CMHC discounts = your commercial mortgage rate
Track live bond yields on our CMB rates page or read the full commercial loan rates guide .
Free Commercial Mortgage Calculators
Model your deal before requesting a quote. Our tools go beyond basic payment calculators — they compare CMHC programs and analyze cash flow.
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Commercial Mortgage Calculator
Estimate monthly P&I, LTV, and DSCR for office, retail, industrial, and multifamily deals
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CMHC MLI Max Loan Calculator
AI document upload, MLI Select vs Standard comparison, max loan estimate
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MLI Select vs Conventional
Side-by-side cost comparison: CMHC insured vs conventional financing
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Multifamily Cash Flow Analyzer
NOI, DSCR, cap rate, and debt service for apartment buildings
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DSCR Loan Canada
Cash-flow qualification product page — then run the calculator and book a call
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DSCR Calculator Canada
Debt service coverage ratio for cash-flow-based qualification
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Live CMB Rate Tracker
Daily 5-year and 10-year bond yields that drive fixed commercial rates
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Mortgage Payment Calculator
Estimate monthly payments with CMHC premium and amortization options
Commercial Rate Guides & Resources
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Get a commercial rates quote
Book a free strategy call for a custom commercial mortgage quote
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Commercial Loan Rates Canada Guide
How CRE loan pricing works — CMHC, conventional A/B, and private ranges
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Best Commercial Mortgage Lenders Canada
Compare 50+ CMHC-approved and conventional lenders
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CMHC Insured vs Conventional Commercial Mortgage
When CMHC insurance beats conventional — and when it doesn't
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Commercial Mortgage Down Payment Canada
LTV requirements by property type and financing path
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Fixed vs Variable Commercial Mortgage
Rate type strategy for commercial investors
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Multifamily Mortgage Rates Canada
Apartment building rate trends and CMHC pricing
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Commercial Financing Options Guide
Complete overview of term loans, bridge, CMHC, and private
Have capital to put to work?
LendCity™ connects capital providers with secured private mortgages and development partnerships — separate from borrowing for your next purchase.
Commercial Mortgage Rates FAQ
Browse our most frequently asked questions below.
Commercial Mortgage Rates FAQ
Programs & Qualification
Get a custom commercial quote
Compare CMHC-insured and conventional rates from 50+ lenders. Get a custom quote matched to your property type and deal structure.