MLI Select New CMHC Product

On Wednesday December 1st, CMHC announced their soft launch of the “MLI Select” product which will replace MLI Flex in the spring of 2022.

What Is MLI Select?

MLI Select is designed to preserve and modernize existing rental units as well as increase new supply with a specific focus on deeper affordability, ac-cessibility, and climate compatibility. In doing so, borrowers will be offered a range of incentives such as reduced premiums and longer amortizations based on their level of commitment.

If you are planning on financing a multi-family commercial property in 2022, let’s discuss how the enhanced CMHC product may benefit you.

MLI Select Highlights:

• 50 year amortizations
• Significantly reduced premiums
• 1.10 DCR requirements
• Limited or non recourse loans
• 95% LTV refinance

For more information contact your CMLS Origination expert today.