Whether you're buying your first apartment building, refinancing an existing rental property, or planning a new development, financing plays a major role in how your project comes together.
The mortgage affects how much equity you need, your monthly payments, and the cash flow available to support the property. That makes choosing the right financing structure an important part of your investment plan.
For eligible multi-unit rental projects, CMHC-insured financing is worth exploring. CMHC supports the construction, purchase, and refinancing of several types of rental housing through approved lenders. Two options to consider are Standard Rental Housing mortgage insurance and MLI Select.
Standard CMHC-insured financing
CMHC's Standard Rental Housing program can support eligible projects with five or more rental units, including new construction, purchases, and refinancing.
For owners and investors, it provides a financing route worth comparing against other lender options. The property's income, expenses, value, and the borrower's financial strength all help determine what financing is available.
You may hear this called "standard CMHC" or "regular CMHC" financing. Conventional financing generally refers to a mortgage without CMHC insurance, so it helps to distinguish the two when comparing proposals.
What makes MLI Select different?
MLI Select uses a points system that recognizes commitments to affordability, energy efficiency, and accessibility.
Eligible projects can receive financing benefits, such as higher leverage or longer amortization periods, depending on the points achieved and applicable program requirements. It is available for qualifying existing properties and new construction.
These benefits come with commitments. Affordability targets, energy performance, and accessibility measures need to be considered alongside the project's budget and long-term operating plans.
Which option fits your project?
The right choice starts with your goals. Are you purchasing a stabilized rental building? Looking to refinance and plan improvements? Developing a project where affordability or energy efficiency is already part of the vision?
Our team can help compare the available options and explain how each could affect your equity contribution, payments, cash flow, and future plans. We'll also help you understand the documentation, costs, and commitments involved before you move forward.
If you're working on several rental projects, reviewing each property individually can help you build a financing strategy that supports your broader portfolio.