Realtor · Calgary, Alberta · Member since 2022 · 6 posts · 0 votes
Hey everyone,
Has anyone here been leveraging CMHC’s MLI Select program for their multi-family acquisitions or refis?
I’ve been digging into it lately as my Real Estate Team I am partnered with has multiple multifamily projects for MLI Select — the ability to access higher LTV ratios (up to 95%), amortizations up to 50 years, and better debt coverage flexibility sounds like a serious game-changer for investors focused on affordability, energy efficiency, or accessibility.
Curious to hear —
Have you or your clients gone through the MLI Select process?
Any insights on timelines, underwriting hurdles?
Would love to trade notes on how others are structuring deals to maximize the program’s benefits to help my future investor clients here in Alberta.
Rental Property Investor · Edmonton, Alberta · Member since 2015 · 307 posts · 200 votes
11mo
It was fantastic when it first came out in March 2022 - 1% premiums, no EGI met requirements, market at the time was not over-supplied, and prices were not too high. It made a lot of sense and I wish I could go back in time to buy more multifamily with the program! I got 3 MLI Select mortgages. It's much more riskier now, and buyers need to know how to determine the property value themselves using the income approach, and not rely on appraisals.