A CMHC MLI Select mortgage rewards real estate investors with reduced mortgage rates, extended amortization periods, and higher loan-to-value for purchase, refinance, and new constructions. Loan-to-value ratios could be as high as 95% of the property value by earning points for affordability, energy efficiency and accessibility.
This means that for purchases, refinances, or construction of approved properties, your down payment equity can be as low as 5%. Along with more extended amortization periods and lower interest rates, investors will experience improved cash flow.
MLI Select mortgage is an innovative mortgage product based on a point system, offering insurance incentives determined by affordability, energy efficiency, and accessibility.
The more committed an investor is to social and environmental outcomes, the better the incentives. You can focus on a single area, such as affordability, or combine commitments to increase your points and incentives, which will, in turn, enhance your cash flow from your rental properties.
This outcome is assessed based on the percentage of units
within the project, with rents equal to or below the
established threshold for the subject market.
New construction:
• Level 1 (50 points) – Min. 10% of units at max.
30% of median renter income.
• Level 2 (70 points) – Min. 15% of units at max.
30% of median renter income.
• Level 3 (100 points) – Min. 25% of units at max.
30% of median renter income.
Existing properties:
• Level 1 (50 points) – Min. 40% of units at max.
30% of median renter income.
• Level 2 (70 points) – Min. 60% of units at max.
30% of median renter income.
• Level 3 (100 points) – Min. 80% of units at max.
30% of median renter income.
In all cases, the borrower must commit to maintain
affordability for a minimum of 10 years from the date of
first occupancy of the project. Affordability commitments
of 20 or more years will be awarded an additional 30 points.
This outcome is assessed based on the improved performance
over the baseline, which depends on whether the building is new
or existing.
New construction:
• Level 1 (20 points) – Min. 20% better than NECB/NBC
• Level 2 (35 points) – Min. 25% better than NECB/NBC
• Level 3 (50 points) – Min. 40% better than NECB/NBC
Existing properties:
• Level 1 (20 points) – Min. 15% decrease over current
baseline levels
• Level 2 (35 points) – Min. 25% decrease over current
baseline levels
• Level 3 (50 points) – Min. 40% decrease over current
baseline levels
This outcome is assessed based on the level of accessibility
and adaptable building design.
There is a requirement for all levels that all units in the
building (ie, both accessible and non-accessible units)
are 100% visitable
in accordance with Canadian Standards
Association (CSA) standard B651:23 and common areas
are barrier-free per B651:23.
Level 1 (20 points):
• Min. 15% of the units are considered accessible in accordance with
with the CSA standard B651:23 or
• Min. 15% of units are universal design or
• The building receives the Rick Hansen Foundation Accessibility
Certification v.4.0 (60%-79% score)
Level 2 (30 points):
• Min. 15% of units are considered accessible in accordance with
with the CSA standard B651:23, and Min. 85% of units are
universal design or
• 100% of units are universal design or
• 100% of units are accessible per the CSA
standard B651:23 or
• The building receives the Rick Hansen Foundation Accessibility
Certification v.4.0 “Gold” (score of 80% or better)
Based on total points awarded, the MLI Select Mortgage can benefit from the following flexibilities.
| Total Points | Maximum LTV/LTC | Max Amortization |
| New Construction | ||
| Min 50 points | Up to 95% | Up to 40 years |
| Min 70 points | Up to 95% | Up to 45 years |
| Min 100 points | Up to 95% | Up to 50 years |
| Existing Properties | ||
| Min 50 points | Up to 85% | Up to 40 years |
| Min 70 points | Up to 95% | Up to 45 years |
| Min 100 points | Up to 95% | Up to 50 years |
You must demonstrate competence and experience commensurate with the size and type of property for which mortgage loan insurance is being sought. The borrower or a corporation affiliated with the borrower must have at least five years of demonstrated management experience in the operation and management of similar multi-unit residential properties. Alternatively, a formal property management contract must be in place with a professional third-party property management firm.
You must have a net worth of at least 25% of the requested loan amount, with a minimum of $100,000. For insurance applications scoring 100 points or more, CMHC may allow flexibility in net worth requirements.
I spoke to quite a few mortgage brokers before talking to Devon, and he was the one who truly stood out. He answered all my questions and explained the ins and outs of the MLI Select program in a way that made it easy for me to understand and gave me the confidence to move forward with buying my first multi-family residential property.
Devon has been my mortgage broker for over 15 years. Over that time, I’ve purchased single duplexes and single-family residential properties, and he had often suggested that I consider entering the multi-residential market. My hesitation was that I didn’t think I would have the time to manage a larger building. After selling one property and purchasing a multi-residential property, I quickly realized how convenient it was not having to travel to multiple locations. Now, we’re already looking for another one. And with the extra cash flow, it became a no-brainer. I only wish I had made the move sooner.
Once Devon explained the benefits of up to 95% loan-to-value financing, a 50-year amortization for a rental property, and the added cash flow that could allow us to purchase another property every four to five years, I was in. We sold our rental property, which we had originally purchased with 20% down and a 25-year amortization, and moved into a multi-family property. While the amortization was longer, it also meant we could benefit from tax deductions for a much longer period, which is a major advantage for long-term investors.
Investors rely on Sunlite Mortgage to guide them through the diverse real estate markets in Ontario. Projects in small towns and urban centers benefit greatly from access to insured financing through MLI Select.
Markets served include
A strong demand for affordable and energy-efficient rental housing lays a strong ground for MLI Select-backed investors across the above cities.
Getting to 95% LTV and locking in long-term insured financing involves more than just filling out the form. We help you structure your application flawlessly and align your building to SMHC scoring priorities. This is what we do best!
At Sunlite Mortgage, we help investors in Ontario with every step of the process. This includes underwriting support, strategy, scoring optimization, and communication with CMHC lenders.
Properties with five or more rental units could qualify for an MLI Select Mortgage, including new constructions or existing buildings. Units that meet accessibility, affordability, or energy efficiency standards earn additional scoring points.
Absolutely! Investors can refinance existing multi-unit buildings using released equity for future investments, provided the property aligns with the CMHC scoring criteria.
Points are awarded across three categories: Affordability, Energy Efficiency, and Accessibility. A minimum of 50 points is required.
The package includes standard mortgage documents, energy audits, a wherever application, rent rolls, and a CMHC scoring worksheet. Our team can assist in gathering and reviewing these materials before submission.
The package includes standard mortgage documents, energy audits, a wherever application, rent rolls, and a CMHC scoring worksheet. Our team can assist in gathering and reviewing these materials before submission.
Absolutely! The MLI Select programs apply across Canada. With our help, our clients in smaller cities like Barrie, Guelph, and Sudbury have successfully qualified for insured financing. Contact us to learn more!
MLI Select came into effect as of March 7, 2022 and has replaced our previous MLI Flex product. Applications for MLI Flex are no longer accepted.
Yes, depending on the commitments you are making such as climate or accessibility, additional documentation will be required. Please refer to the MLI Select required documentation guide (PDF).
