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CMHC Mortgages

Apartment Complex

Find an affordable mortgage, your way. 

The Canada Mortgage and Housing Corporation (CMHC) plays a pivotal role in supporting commercial real estate development in Canada, particularly through its innovative mortgage loan insurance programs like MLI Select and MLI Market. These programs are designed to incentivize the creation and preservation of affordable, accessible, and energy-efficient multi-unit housing. 

While brokers are no longer able to submit applications directly to CMHC—except in the case of Certificate of Insurance (COI) assumptions—Impact Commercial maintains strong relationships with a wide network of CMHC-approved lenders. This strategic alignment allows us to navigate the complexities of CMHC’s programs, including MLI Select and MLI Market, and advocate effectively on behalf of our clients.  

What is CMHC financing?

CMHC financing in commercial real estate refers to mortgage loan insurance provided by the Canada Mortgage and Housing Corporation for multi-unit residential properties. This includes apartment buildings, student housing, retirement homes, and long-term care facilities. CMHC’s role is to de-risk lending by insuring mortgages, which allows approved lenders to offer borrowers lower interest rates, higher loan-to-value ratios (up to 95% in some cases), and extended amortization periods (up to 50 years).
 

There are two primary CMHC programs relevant to commercial real estate:
 

  • MLI Select: A point-based system that rewards projects with affordability, accessibility, and energy efficiency features. It offers reduced premiums, longer amortizations, and higher leverage. 
     

  • MLI Market: A more traditional insurance product for multi-unit residential properties without the point-based incentives. It still provides access to CMHC’s core benefits like lower rates and longer terms but is less focused on social outcomes.
     

CMHC also supports construction financing, allowing developers to access funding during the build phase. Loans can be advanced up to 95% of cost and may qualify for amortizations of up to 50 years depending on the program and property type.

Have any questions? Give us a call.

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