The Shared Equity Mortgage Providers (SEMP) Fund helps eligible Canadians achieve affordable home ownership.

This $100-million lending fund supports existing shared equity mortgage providers. The Fund will also encourage additional housing supply and help attract new providers of shared equity mortgages.

The Shared Equity Mortgage Providers Fund is a 5-year program that launched on July 31, 2019. It aims to assist in the completion of 1,500 new units and help at least 1,500 homebuyers buy their first home.

The program offers eligible proponents repayable loans from one of two possible funding streams:

Preconstruction Loans - Stream 1

Funding for preconstruction cost loans to commence new housing projects in which shared equity mortgages will be provided to homebuyers via SEMPs.

Shared Equity Mortgages (SEM) - Stream 2

Loans to SEMPs to fund shared equity mortgages that they provide directly to first time homebuyers.

If there is more demand than available funding, CMHC may prioritize eligible applications to determine where commitments will be made.

Support from other CMHC programs may be available subject to satisfying program-specific requirements. Some of the following exceptions apply:

  • Stacking of the SEMP Fund and SEED Funding Program is not permitted (applies only to Stream 1).
  • Stacking between Stream 1 and Stream 2 under the SEMP Fund is not permitted.
  • First-time homebuyers cannot benefit from shared equity mortgages resulting from both the SEMP Fund and the First-Time Home Buyers Incentive Program.