Mortgage Loan Insurance: Student Housing 

CMHC mortgage insurance offers flexible financing options to help developers build, buy or refinance student housing. This includes financing options like:

  • higher loan-to-value ratios
  • loan advances up to 75% of the lending value during construction
  • lower debt coverage ratios
  • preferred interest rates
  • amortization periods up to 40 years


Our flexibilities are available for first, second and pari passu mortgages for purpose-built student housing both on- and off-campus. 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%

On-campus projects can have a mix of self-contained and non-self-contained units. Off-campus projects can only be self-contained housing with at most 4 bedrooms per unit. They must also be within walking distance to campus or public transit.  

In addition, the borrower must have:

  • 5+ years' experience with a similar property (or a property manager with this record)
  • a net worth of at least 25% of the value of the loan
  • the capacity to cover a full year at 100% vacancy (for new construction)
  • the ability to guarantee 100% of the loan until you have 12 consecutive months of stable rents




For more details about our mortgage insurance tools, including:

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Date Published: March 31, 2018