CMHC Lending Options

CMHC Insured Construction Financing

This is the most competitive construction financing that is available for new affordable housing projects and standard rental housing of 5+ units. CMHC construction loans amounts offered from $5 to $100M+, with a 40 year amortization period. There are various term lengths available to accommodate your project’s timeline, and term financing is available upon completion.

CMHC Insured Term Mortgage

Available for multi-family, student and affordable housing projects, a CMHC insured term mortgage has an amortization period of up to 40 years and a maximum LTV of up to 85 per cent.


An innovative new multi-unit loan insurance product that is based on a point system to offer insurance incentives based on affordability, energy efficiency, and accessibility. Incentives are available for new construction and purchase or refinance. Read more about the specific requirements for MLI Select here.

Other Lending Options

Multi-Family Bridge Financing

These short term loans provide flexibility for you to close faster on a purchase transaction, and help facilitate timely repayment of construction debt. Available in loan amounts of $5M – $100M+, with terms of 3-12 months, on an interest-only or amortizing basis.

National Housing Co-Investment Fund

The Co-Investment Fund provides capital to partnered organizations for new affordable housing and the renovation and repair of existing affordable and community housing. Funds are provided as low-interest and/or forgivable loans and contributions.

Rental Construction Financing Initiative (RCFI)

Provides low cost funding to eligible borrowers during the most risky phases of product development of rental apartments (construction through to stabilized operations).

The initiative focuses on standard rental apartment projects in Canada with general occupants where there is a need for additional rental housing supply. The minimum loan is $1M, and a maximum of up to 100 per cent of Loan to Cost (for residential loan component).

Seed Funding

The Seed Funding program supports affordable housing through interest-free loans and/or non-repayable contributions. There are two funding streams: one for new construction/conversions, and one to preserve existing community housing projects.

Canada ICI advisors are experts in CMHC lending.

How it Works

Backed by data and experience 

We know the markets we operate in at a granular level – and this knowledge is what underpins all of our CMHC applications, allowing us to achieve the best outcome for our clients. After funding $8B+ CMHC-insured loans last year, in addition to numerous MLI Select applications in the last 24 months, rest-assured that our advisors know the process inside and out and can answer any questions you may have along the way.




Our Canada ICI advisors work with you on an appropriately structured loan strategy.



Once a suitable CMHC product is chosen we work together to build out a robust application directly with CMHC as an approved lender.



Certificate of Insurance (COI) is obtained.



After CMHC approval, we receive quotes from the lending market and choose the most suitable lender(s) for the project.



We provide seamless funding and ongoing loan management.



Manage the renewal and ensure competitive pricing from the incumbent lender, with opportunity to assign COI if not competitive.

What’s New With CMHC?

Navigating the Upcoming Changes to CMHC’s Multi-Unit Mortgage Loan Insurance Premiums

As an approved lender, Canada ICI has been informed of significant changes to the Canadian Housing and Mortgage Corporation (CMHC)’s multi-unit mortgage loan insurance premiums this week. As a result of an annual review of insurance products and the adoption of new IFRS 17 accounting standards, CMHC is increasing its premium rates for multi-unit properties.

CMHC’s Financial Capacity Review Threshold Creates More Opportunities for Borrowers

The Canadian Mortgage Housing Corporation (CMHC) recently announced changes to its financial capacity review (FCR), increasing the threshold from $75M to $150M, effective March 31, 2023. This development brings two significant implications for commercial real estate developers and borrowers.

CMHC MLI Select: Providing Insight and a Framework

Canadian Mortgage Housing Corporation (CMHC) announced that they will be phasing out the MLI Flex financing initiative and replacing the program with an upgraded version that will be known as MLI Select. This new initiative from CMHC is built for clients that care deeply about providing Canadians access to affordable, sustainable, and accessible housing units across the country.