What is MLI Select?
MLI Select is CMHC multi-unit mortgage loan insurance that uses a point system to offer insurance incentives based on affordability, energy efficiency and accessibility, for new construction and existing properties.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
A project needs a minimum of 50 points to qualify for MLI Select.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
MLI Select came into effect on March 7, 2022, replacing MLI Flex.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
Which projects are eligible?
- Projects need at least 5 units, except retirement homes, which need at least 50 units or beds.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- Eligible: standard rental buildings, single room occupancies (SRO), supportive housing and retirement homes. Student housing qualifies only under energy efficiency and accessibility.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- Non-residential space must not exceed 30% of the gross floor area or 30% of total lending value.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- The project must not be subject to any prohibition under the Prohibition on the Purchase of Residential Property by Non-Canadians Act.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- Modular construction is eligible for all CMHC multi-unit products, including MLI Select.CMHC news release, modularas of Oct 15, 2026(opens official source in a new tab)
How are points earned?
Points come from three categories: affordability, energy efficiency and accessibility. You can focus on one or combine them.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
| Category | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Affordability (units at or below 30% of median renter income, 10-year minimum) | 50 points: min. 10% of units | 70 points: min. 15% of units | 100 points: min. 25% of units |
| Energy efficiency (better than 2020 NECB / 2020 NBC Tier 1) | 20 points: min. 25% better than NECB, or 20% better than NBC | 35 points: min. 50% better than NECB, or 40% better than NBC | 50 points: min. 60% better than NECB, or 70% better than NBC |
| Accessibility (CSA B651:23) | 20 points: min. 15% of units accessible, or 15% universal design, or RHFAC v4.0 (60–79%) | 30 points: 15% accessible plus 85% universal design, or 100% universal design, or 100% accessible, or RHFAC v4.0 Gold (80%+) | — |
| Category | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Affordability (units at or below 30% of median renter income, 10-year minimum) | 50 points: min. 40% of units | 70 points: min. 60% of units | 100 points: min. 80% of units |
| Energy efficiency and GHG (reduction over current performance) | 20 points: 15% reduction | 35 points: 25% reduction | 50 points: 40% reduction |
| Accessibility | Same as new construction: 20 points | 30 points | — |
- Affordability commitments run for at least 10 years; a commitment of 20 years or more earns an additional 30 points.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- The affordability period starts at first occupancy for new construction or major renovation, and at the interest adjustment date for existing buildings.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- At every accessibility level, all units must be 100% visitable and common areas barrier-free under CSA B651:23.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- Affordable units rent at or below 30% of median renter income for the market, from CMHC’s workbook (2019 data, last updated March 2021).CMHC median renter income workbookas of Oct 15, 2026(opens official source in a new tab)
What does each tier unlock?
| Total points | Max. loan (new: LTC / existing: LTV) | Max. amortization | Recourse | Premium discount |
|---|---|---|---|---|
| 50+ | New: up to 95% · Existing: up to 85% | Up to 40 years | Full recourse | 10% |
| 70+ | Up to 95% | Up to 45 years | Full recourse | 20% |
| 100+ | Up to 95% | Up to 50 years | Limited recourse | 30% |
- Minimum debt coverage ratio (DCR): 1.10 for standard rental housing, 1.20 for other shelter models, 1.40 for non-residential space.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
- The maximum amortization is the tier’s number of years or the remaining economic life, whichever is less.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Replacement reserve is discretionary under MLI Select.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
What does CMHC ask of the borrower?
- Borrowers need at least five years of experience managing similar multi-unit properties, or a contract with a professional third-party property manager.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Borrowers need a net worth of at least 25% of the loan amount requested, minimum $100,000; CMHC may permit flexibility at 100 points or more.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Construction or completion take-out financing: the borrower and guarantor guarantee 100% of the outstanding amount until projected rents are achieved and stabilized for 12 consecutive months; it may then be reduced to 40%.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Purchase or refinance of an existing property: the guarantee is 40% of the outstanding loan amount.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- For new construction, a rental achievement holdback may apply.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Interest rate: fixed, or floating with a ceiling rate. CMHC does not set the rate; the lender does.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
Verify: CMHC does not publish a liquidity percentage, a large-borrower threshold or a processing-time standard for 5+ unit loans. Lenders set those case by case, so ask yours. More on the borrower process page.
What are the premiums and fees?
The premium is an up-front charge, a percentage of the loan; it may be added to the mortgage and is non-refundable. Provincial tax cannot be added to the insured loan amount.CMHC fees and premiumsas of Oct 15, 2026(opens official source in a new tab)
| Loan-to-value | Construction financing | All other loan purposes | Available under |
|---|---|---|---|
| Up to and including 65% | 3.25% | 2.60% | MLI Market and MLI Select |
| Up to and including 70% | 3.75% | 2.85% | MLI Market and MLI Select |
| Up to and including 75% | 4.25% | 3.35% | MLI Market and MLI Select |
| Up to and including 80% | 5.00% | 4.35% | MLI Market and MLI Select |
| Up to and including 85% | 6.00% | 5.35% | MLI Market and MLI Select |
| Up to and including 90% | 6.75% | 5.90% | MLI Select only |
| Greater than 90% | 7.00% | 6.15% | MLI Select only |
- Extended amortization surcharge: 0.25% for every five-year period beyond the 25-year standard.CMHC fees and premiumsas of Oct 15, 2026(opens official source in a new tab)
- Other surcharges: 1.00% on the non-residential portion of the loan; 0.50% for second mortgages; 0.25% where effective gross income is not met at first advance (not for construction financing).CMHC fees and premiumsas of Oct 15, 2026(opens official source in a new tab)
- MLI Select premium discount: 10% at 50 points, 20% at 70 points, 30% at 100 points, applied to the base premium plus any surcharges.CMHC fees and premiumsas of Oct 15, 2026(opens official source in a new tab)
- Application fee, 5+ units: $150 per unit (up to 2 advances) or $200 per unit (more than 2 advances) for the first 100 units, then $100 per unit, to a maximum of $50,000 or $55,000 per loan; plus $350 per advance from the third advance.CMHC fees and premiumsas of Oct 15, 2026(opens official source in a new tab)
For a specific loan, use CMHC’s own schedule and your lender’s quote rather than any example on a third-party site. Open CMHC’s fees and premiums sheet (PDF). For a worked example built from that schedule, see the illustrative premium calculation.
How can affordable rents change?
For the whole commitment, increases on designated affordable units cannot exceed what applicable legislation permits (including binding rulings of a provincial or territorial rent authority). If none applies, increases are limited to the CPI figure CMHC publishes.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
CMHC’s 2027 permitted CPI percentages are the lowest available positive CPI for each province and territory between September 2025 and August 2026.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab)
| Province or territory | CPI % to use when applicable |
|---|---|
| Alberta | 0.1% |
| British Columbia | 1.8% |
| Manitoba | 0.8% |
| New Brunswick | 2.4% |
| Newfoundland and Labrador | 1.3% |
| Nova Scotia | 4.9% |
| Ontario | 0.7% |
| Prince Edward Island | 0.2% |
| Quebec | 3.0% |
| Saskatchewan | 1.8% |
| Northwest Territories | 2.4% |
| Nunavut | 2.4% |
| Yukon | 2.4% |
Verify: Whether a province’s rent law or CMHC’s CPI figure governs a given building is a question for your lender or CMHC. For Alberta, see how the two rules interact. Full detail: affordable-rent rules and the median renter income lookup.
How does the application work?
- The Approved Lender applies on the borrower’s behalf with a “Request – Certificate of Insurance”.CMHC Request – Certificate of Insuranceas of Oct 15, 2026(opens official source in a new tab)
- CMHC issues a Certificate of Insurance, which carries Special Conditions the borrower must meet. The commitment letter is the lender’s document.CMHC required documentation guideas of Oct 15, 2026(opens official source in a new tab)
- Where insured financing funds the work, energy and accessibility documentation is due within 60 days after the last advance.CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab)
- Annually, the borrower gives the lender a certificate of compliance supported by a copy of the rent roll.CMHC required documentation guideas of Oct 15, 2026(opens official source in a new tab)
CMHC’s wording is “Certificate of Insurance”. CMHC insures the loan; it does not approve or underwrite a deal for an investor, and nothing on this site implies it has. See the borrower process and the glossary.
What changed recently?
- September 21, 2026. CMHC’s MLI Select page shows “Date Published: September 21, 2026”.CMHC MLI Select pageas of Oct 15, 2026(opens official source in a new tab) Compared with the archived prior version, the CPI table now gives 2027 “permitted” percentages that increases “must not exceed” (it previously gave 2026 “recommended” figures), the rent-increase rule also covers binding rulings of provincial or territorial rent authorities, and the older 2015/2017 energy-code attestation was removed. Points, tiers and loan terms did not change.
- May 7, 2026. Modular construction is eligible for all CMHC multi-unit products, including MLI Select.CMHC news release, modularas of Oct 15, 2026(opens official source in a new tab)
- July 14, 2025. CMHC moved all multi-unit products, including MLI Select, to a standardized premium approach effective July 14, 2025.CMHC premium noticeas of Oct 15, 2026(opens official source in a new tab)
Verify: CMHC posts no change log for the September 2026 update. The summary above comes from comparing the live page with an Internet Archive copy from August 27, 2026, so confirm any detail with CMHC or your lender.
New to the program? The step-by-step guide walks through a deal from eligibility to annual compliance.
CMHC’s own note on its sheets: “This information is subject to change at any time. Please verify with CMHC that you have the most up to date information before the loan is processed.”CMHC MLI Select fact sheetas of Oct 15, 2026(opens official source in a new tab) See the full disclaimer.