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National Housing Strategy

Apartment Construction Loan Program

Access low-cost loans to build rental apartment projects across Canada.

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IMPORTANT

The Apartment Construction Loan Program is open for applications!

Please review the resources in the Application Resources section before you apply.

The Apartment Construction Loan Program provides low-cost funding to eligible borrowers during the riskiest phase of development: construction through to stabilized operations.

The program offers loans ranging from a minimum of $1,000,000 up to 100% of the cost of the residential component of a project.

The program focuses on standard rental, seniors housing and student housing projects in Canada where there is a need for additional rental housing supply.

The Enhanced Apartment Construction Loan Program Features:

  • Enhanced eligibility requirements – includes incentive-based approach to energy efficiency and accessibility
  • Financing for standard rental housing projects
  • Financing for independent living seniors housing
  • Financing for student housing projects on and off campus

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Online Application Portal

Before starting your application, please take a moment to download, save, and review our portal guide. The guide includes information required to create your profile and start the application process successfully.

Download the portal guide (PDF)Start your application

Have questions? Need further support? Contact one of our regional CMHC specialists.

Choose the Option That’s Right for You

Standard Rental Housing

Low-cost loans to support the development of rental housing.

Seniors Rental Housing

Targeted financing for projects that offer accommodation and access to services for seniors to live independently.

Student Housing

Designed to support the development of student housing that’s on-campus or close to post secondary educational institutions.

FREQUENT BUILDER INITIATIVE

CMHC's Frequent Builder framework is designed to accelerate the construction of affordable rental homes by expediting the application process for established housing providers working with CMHC that have a proven track record in delivering projects, making the process easier and faster.

Frequent Builder benefits

As an approved Frequent Builder, you could gain advantages that streamline interactions and processes for selected CMHC projects, like these operational benefits:

  • priority assignment of CMHC resources and expedited loan approvals
  • underwriting and advancing flexibilities
  • conditional funding approval provided for future funding years

Eligibility requirements

To be eligible, CMHC will assess you on your:

  • financial strength: demonstrated through satisfactory credit assessment by CMHC
  • operational capacity: with no default within last 10 years
  • proven track record in delivering projects

For-profit organizations

For-Profit entities must have conducted a minimum of $50 million* of business with CMHC** and fulfill 3 of the following criteria based on the latest CMHC credit assessment:

  • own more than $1 billion of multi-residential assets
  • have a minimum net worth value of $250 million
  • have a 1.30 debt coverage ratio within their multi-residential portfolio
  • have more than $500 million of effective outstanding exposure (insurance and lending) with CMHC

*If the for-profit entity has not met the criterion of having at least $500 million, but has met the other 3 criteria, they must also have a minimum of $50 million of business with CMHC.

Governmental organizations

Provinces, territories, municipalities, Indigenous governing bodies and other levels of government require a minimum level of business of $20 million with CMHC.**

Non-profit organizations, registered charities and co-operative housing organizations

For non-profit organizations, registered charities and co-operative housing corporations, CMHC will also consider clients who meet one of these requirements: have a minimum of $50 million of business with CMHC or have a minimum of $20 million of business with CMHC** and manage a large portfolio of rental housing units.

Frequent Builder status

To achieve Frequent Builder status, you are required to undergo a credit assessment and provide CMHC with annual audited financial statements. Government entities are exempt from the credit assessment.

For more information about the Frequent Builder framework, contact our Contact Centre or reach out to your CMHC specialist.

**Loans must be linked to one of the following programs:

  • a National Housing Strategy program
  • the Canada Greener Affordable Housing Program
  • the Non-Profit On-Reserve Housing Program (section 95)
  • mortgage loan insurance for multi-unit buildings
  • bilateral agreements signed as part of the National Housing Strategy

Funding Set-Asides

Please connect with CMHC if you believe your project aligns with one of the following funding set-asides:

Funding for apartments above shops

Budget 2024 committed to provide at least $100 million in low-cost loans from the Apartment Construction Loan Program to build above existing shops and businesses across the country.

Funding for prefabricated or innovative housing

Budget 2024 will also propose earmarking at least $500 million in low-cost financing through the program to build new apartments that use prefabricated or innovative homebuilding techniques.

Provincial/Territorial Agreements

On January 23, 2025, B.C. and CMHC signed onto the ACLP-BC Builds Collaboration Agreement.


The Apartment Construction Loan Program has options to build or convert non-residential buildings into sustainable rental housing. Contact us to see which option is right for you.

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