Rate & Term Refinance
Refinance to a lower rate or adjust your mortgage term without accessing equity. Reduce annual debt service and improve cash flow.
- Current rate shopping
- Fixed or variable options
- Quick closing timeline
Multifamily Apartment Building Refinancing
Lower your mortgage rates, access equity, or transition to CMHC programs. Refinancing apartment buildings in Canada gives you the flexibility to reduce debt service, fund acquisitions, or optimize your portfolio. We match you with the best refinance terms available.
Maximize Your Building's Equity
Refinancing apartment buildings unlocks trapped equity, reduces debt service, and positions your portfolio for growth. Whether you're looking to lower rates, fund new acquisitions, or optimize your capital structure, we have refinance solutions for multi-family properties across Canada.
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Rate & Term Reduction
Lower your mortgage rate and reduce annual debt service. Save 1-2% or more in interest costs.
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Cash-Out Refinance
Access equity for acquisitions, renovations, or portfolio expansion without selling the property.
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CMHC Conversion
Transition to CMHC insurance programs for better long-term rates and amortization flexibility.
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Term Optimization
Adjust your amortization schedule or lock in fixed rates to match your investment timeline.
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Portfolio Consolidation
Refinance multiple properties or consolidate debt into a single efficient financing structure.
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Equity Access Strategy
Unlock capital for growth opportunities while maintaining strong cash flow ratios.
Ready to refinance your apartment building?
Refinancing Solutions
Multiple refinance options for apartment buildings and multi-family properties.
Cash-Out Refinance
Refinance and withdraw equity for acquisitions, renovations, debt repayment, or portfolio growth.
- 80-90% LTV available
- Flexible use of proceeds
- Preserve property ownership
CMHC Conversion
Move from conventional to CMHC-insured financing for better long-term rates, extended amortization, and improved terms.
- Lower interest rates
- Up to 50-year amortization
- Enhanced flexibility
How Much Can You Finance on Multifamily?
Multifamily Refinancing Requirements
Refinance requirements focus on your property's performance and your financial stability.
Requirements
- Stabilized occupancy of 90% or higher.
- Trailing 12-month (T-12) financial statements and operating records.
- Phase 1 environmental assessment for the property.
- Recent building condition report (property inspection summary).
- DSCR minimums of 1.10x or higher (1.25x+ for CMHC conversion).
- Minimum net worth and liquidity requirements from your lender.
How We Help
- Expert guidance on rate environment and refinance timing.
- Access to 10+ CMHC and conventional lenders for competitive rates.
- Optimization strategies to minimize closing costs and maximize savings.
- Support through appraisal, underwriting, and closing process.
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Questions About Refinancing Solutions
Everything you need to know about refinancing solutions.
Refinance Options & Structures
CMHC-insured refinances offer lower rates and longer amortization (up to 50 years on MLI Select) but add insurance premium and CMHC review time. Conventional is often faster, with higher rates and 25–35 year amortization. MLI Select uses a 1.10x minimum DCR on standard rental; MLI Standard is 1.20x on a 10-year term or 1.30x on a 5-year term — never 1.10x on Standard.
Conventional cash-out is commonly 80–90% LTV when occupancy, DSCR, and condition support it. CMHC can go higher on qualifying multi-family, subject to program rules. On a $5 million property already carrying $3 million, 80% LTV would support about $1 million of additional proceeds — not the full new loan amount.
Most Canadian commercial mortgages are closed-term with IRD or yield-maintenance if you break early. Some CMHC-insured structures have more manageable penalties. We model the break cost against the savings before you leave a current lender.
Qualification & Process
Stabilized occupancy around 90%+ with a T-12 is the usual starting point. Minimum DCR is 1.10x for MLI Select standard rental, 1.20x for MLI Standard at 10 years, and 1.30x for MLI Standard at 5 years. Conventional lenders often look for 1.20x–1.25x.
A current appraisal, T-12 operating statements, rent roll, and usually a Phase 1 environmental and building condition report. Missing third-party reports are the main reason a 45-day file becomes a 60–90 day file.
Yes. CMHC conversion is a refinance into an insured program on the same asset. You keep the building, reset rate and amortization, and pay out the existing lender. Insurance premium and CMHC approval apply; we only recommend it when the rate, leverage, or amortization gain clears the extra cost and timeline.
When to Refinance
Refinance when rates are about 0.75–1.00% below your current coupon, when you need capital for acquisitions, or when amortization is too short for DSCR. Rising occupancy or a stronger T-12 NOI also creates a window — even if the rate is unchanged — because leverage can increase.
Rate-and-term files typically close in 30–45 days. Cash-out and CMHC conversions more often take 45–60 days (sometimes 90) because of appraisal, Phase 1, and CMHC review.
When to Refinance (Continued)
Expect about 1–2% of the loan amount for legal, appraisal, title, and lender fees, plus a CMHC insurance premium if you are converting to insured. Rate or amortization savings often recover those costs within 12–24 months — we run that payback before you commit.