Mortgage loan insurance: standard rental housing

Our flexibilities are available for first, second and pari passu mortgages on any eligible rental property. To be eligible, your project must: 

• have at least 5 rental units
• be at least 70% residential in terms of both floor area and the total loan value
• have a maximum loan-to-value ratio of 85%
• not be subject to any prohibition under the Prohibition on the Purchase of Residential Property by Non-Canadians Act

In addition, the borrower must have: 

• proven competence in managing a similar size and type of property
• at last five years' multi-unit property management experience (or a property manager with this record)
• a net worth of at least 25% of the value of the loan
• the ability to guarantee 100% of the loan until you have 12 consecutive months of stable rents

For applications received after March 7, 2022, please refer to the energy efficiency incentives available through our MLI Select product.

For applications received prior to March 7, 2022 borrowers with energy efficient projects may qualify for a 10-15% refund on their loan insurance premiums. For more information, please contact one of our Client Relationship Managers.