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Affordable Housing Fund

The Affordable Housing Fund provides capital to partnered organizations* for new affordable housing and the repair and renewal of existing affordable and community housing. Funds are provided as low-interest and/or forgivable loans and contributions.

* This fund is available to organizations that have partnered with another organization or level of government and have secured some funding.

IMPORTANT

The Affordable Housing Fund is open for applications!

Please review the Applicant Guide (PDF) and resources in the Application Resources section before you apply.

The Enhanced Affordable Housing Fund Features

  • Funding for diverse community housing projects
  • Funding for shelters, transitional and supportive housing
  • Repair projects prioritized for accessibility and energy efficiency outcomes
  • Faster, more efficient approvals process
  • Extended 20-year fixed-term low-cost loans for greater predictability

Choose From the Following Options

New Construction: Community Housing Sub-Stream

This sub-stream supports the construction of affordable housing supply. Eligible projects include mixed-use and mixed-income communities and those that integrate supports and services.

New Construction: Rapid Housing Sub-Stream

This sub-stream focuses on supporting the construction of shelters, transitional and supportive housing for those in greatest need.

Repair and Renewal

This stream focuses on the preservation and revitalization of existing community and affordable housing.

Learn More About Our Featured Options

Indigenous and Northern Communities

Financing opportunities for housing providers in northern communities and/or serving Indigenous peoples.

Black-led Organizations

Dedicated funding of up to 100% of eligible costs for new affordable housing for Black households.

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

The Affordable Housing Fund has options for new construction, the repair and/or renewal of existing buildings. Contact us to see which option is right for you.

Renovation Projects

Here are some renovation projects carried out with the support of the Affordable Housing Fund.

Building under construction

Supportive and Affordable Housing in a Renovated Hotel

Old hotel reimagined as mixed-market housing with space for Calgary’s vulnerable residents.

Bob Dugan being interviewed

Winnipeg Shelter Provider Adds 41 More Beds

Buhler Centre’s expansion provides more housing and supports for people experiencing homelessness.

Bob Dugan being interviewed

Safe Housing for London Youth Aging Out of Foster Care

Heritage building repurposed as supportive housing for young adults.

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