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.
CMHC MLI Select
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.
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.