MLI Select vs CMHC Standard Rental Housing insurance (MLI Flex was replaced by MLI Select on March 7, 2022).
- MLI Select (50+ points): up to 95% loan-to-cost for new construction; existing properties up to 85% LTV at 50 points and 95% at 70+; amortization up to 40 / 45 / 50 years at 50 / 70 / 100 points; premium discounts of 10% / 20% / 30%; minimum DCR 1.10 for standard rental; limited recourse available at 100 points.
- Standard Rental Housing: up to 85% loan-to-value, longer amortizations than conventional financing, standard CMHC premiums with no MLI Select discount.
- Conventional (uninsured): typically 65–75% loan-to-value, 25–30 year amortization and higher debt-coverage requirements (often 1.20x+).
Source: CMHC MLI Select and Standard Rental Housing product pages. CMHC updates terms periodically — confirm current criteria with your lender.