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Mortgage loan insurance for affordable and market rental housing

Learn more about mortgage loan insurance products and other funding opportunities and that are available for multi-unit rental properties.

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Mortgage loan insurance for affordable and market rental housing

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Approximately 30% of Canadians rely on rental housing to meet their housing needs.

CMHC offers both funding opportunities and mortgage loan insurance products to support the construction, purchase and refinancing of rental properties.

COVID-19: Refocusing Multi-Unit Market Refinance to Support Investments in Housing

We are implementing a new restriction on use of funds as a condition of insurance for market refinance loans. The restriction ensures investments focus on the supply and preservation of multi-unit residential housing in the immediate term.

Effective immediately, refinance proceeds must be used for a permitted purpose in relation to residential housing.

This could include one or more of the following:

  • purchase,
  • construction,
  • capital repairs/improvements (including for increased energy efficiency and accessibility), or
  • securing permanent financing (take-out financing to pay off a short-term construction loan).

Certain other uses may be permitted on a case-by-case basis; however equity take-out or distributions to equity holders will not be permitted.

If you have questions, please call: 1-877-MULTI-GO (1-877-685-8446).

MORTGAGE LOAN INSURANCE PRODUCTS (5+ UNITS)

As Canada's only provider of mortgage loan insurance for multi-unit residential properties, CMHC provides access to preferred interest rates lowering borrowing costs for the construction, purchase and refinance of multi-unit residential properties and facilitates renewals throughout the life of the mortgage. Additional incentives are available to support affordable rental housing projects.

Affordable rental housing mortgage loan insurance products

  • Affordable Housing

    Offers flexibilities to encourage the construction, preservation and improvement of affordable rental properties, helping Canadians meet their rental housing needs. The flexibilities include higher loan-to-value ratios, lower debt coverage ratios, and reduced premiums.

 Market rental housing mortgage loan insurance products

  • Standard Rental Housing

    Provides greater financing choices to borrowers offering standard rental housing accommodations in multi-unit residential buildings.

  • Retirement Housing

    Provides greater financing options to borrowers offering retirement housing for seniors.

  • Supportive Housing

    Provides financing options to borrowers providing supportive housing to help tenants stabilize their lives, enhance their independent living skills, and reconnect with their communities.

  • Student Housing

    Provides financing options to borrowers offering purpose-built student housing both on- and off-campus.

  • Single Room Occupancy

    Provides greater financing choices to borrowers providing single private room accommodations within a multiple tenant building.

FUNDING OPPORTUNITIES

Tools and financial assistance to help you create affordable housing without long-term federal subsidies.

  • Seed Funding

    Financial assistance for activities that will help create new affordable housing units and assist existing housing projects to remain viable and affordable.

  • Affordable Housing Innovation Fund

    Offers funding for new funding models and innovative building techniques in the rental housing sector.

  • Rental Construction Financing

    Provides lower-cost loans for the construction of rental housing across Canada.

  • National Housing Co-Investment Fund

    Provides low-cost and forgivable loans for the construction, repair and revitalization of affordable housing.

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Date Published: August 23, 2018
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