CMHC MLI Select · Alberta + BC
Own a rental building with up to 95% financing.
MLI Select can finance qualifying 5+ unit rentals with as little as 5% down and up to 50-year amortization. Rob Thomson finds the buildings, runs the CMHC points and cash flow, and connects you with an MLI Select mortgage broker. Calgary, Edmonton and the Okanagan.
How it works
MLI Select in three parts.
CMHC looks at two things: you, and the building. Then there is the fine print most people learn the hard way. Here is the short version, current to October 2026.
Part 1
You
- Net worth of at least 25% of the loan, minimum $100,000. On a $2.4M loan that is $600,000.
- Cash for the deposit, the down payment (5% to 15%), closing costs, and reserves. Lenders want to see it in the bank.
- Experience owning rentals, or a professional property manager in place.
- Location: out-of-province buyers are fine, with a local manager and a clear plan.
Part 2
The building
- 5+ self-contained units. A 4-unit rowhouse with 4 legal suites counts as 8.
- Points from affordability, energy efficiency and accessibility. 50, 70 or 100 points sets your leverage and amortization.
- Debt coverage of at least 1.10: rents after expenses must cover the mortgage with room to spare.
- New builds usually get better terms than older buildings.
Part 3
The fine print
- Premiums are real money. Often 4% to 7% of the loan at high leverage, usually added to the mortgage.
- Timing: CMHC approval can take weeks to months. Builders often want 10% to 20% in deposits before that.
- Affordability points lock some rents below market for 10+ years. In Alberta, those rent increases are capped.
- Holdbacks: on new builds, part of the loan can be held back until the units are rented.
| Points | New construction | Existing building | Premium discount | Typical route (new build) |
|---|---|---|---|---|
| 50 | Up to 95% of cost, 40 yrs | Up to 85% of value, 40 yrs | 10% | Energy-efficient new build (top energy tier), or 10% of units affordable |
| 70 | Up to 95%, 45 yrs | Up to 95%, 45 yrs | 20% | Energy plus accessibility, or 15% of units affordable |
| 100 | Up to 95%, 50 yrs | Up to 95%, 50 yrs | 30% | 25% of units affordable plus energy, or a mix of all three |
Summary of CMHC's published MLI Select criteria. Debt coverage, recourse and premiums vary by file. Financing is subject to CMHC and lender approval. Program details current as of October 2026 and subject to change. Source: CMHC MLI Select.
Deal calculator
Does the building pay for itself?
Plug in a building. This shows your cash in, the mortgage with the CMHC premium added, and whether the rents clear CMHC's 1.10 debt coverage test.
Illustration only. Expenses should cover vacancy, property tax, insurance, utilities, repairs and management. Rates and premiums are set by your lender and CMHC. Canadian mortgage math, compounded semi-annually.
One point of contact
What Rob does for MLI Select investors.
Finds the buildings
New 8-plexes and rowhouses on and off MLS®, builders' next projects before they list, and approved development sites. Calgary, Edmonton and the Okanagan.
Runs the numbers first
Rents from real comparables, expenses, CMHC points, premium and debt coverage, before you put down a deposit.
Lines up the financing
An introduction to MLI Select mortgage brokers who submit to CMHC Approved Lenders, so you know your terms early.
Negotiates with builders
Deposit structure, financing conditions long enough for CMHC, and what happens if the approval comes back short.
Plans the operation
Property manager referrals, affordable-unit rent setting, and a lease-up plan that keeps holdbacks short.
Licensed in AB and BC
Rob Thomson, REALTOR® with Real Broker, licensed across Alberta and in the BC interior. Fast replies, honest numbers.
Pick your path
Three ways investors use MLI Select.
Most popular
Buy a new build
A brand new 8 to 24 unit rental from a builder, energy-modelled for MLI Select. Best leverage, lowest maintenance, and the builder often handles the CMHC energy work.
Value add
Buy an existing building
An older 5+ unit walk-up or rowhouse. Earn points through energy retrofits or affordability, then refinance. More work, often more upside.
Own a lot?
Build or sell a site
Hold an approved R-CG, H-GO or multi-family site? Rob can show you what the land is worth to builders, or connect you with one to build and hold.
2-minute check
See if you qualify for MLI Select.
Answer six quick questions. Rob replies with buildings that fit and a mortgage broker intro, usually within one business day.
Common questions
What is CMHC MLI Select?
MLI Select is CMHC's mortgage insurance program for rental buildings with 5 or more units. Buildings earn points for affordability, energy efficiency and accessibility. More points unlock higher leverage (up to 95%), longer amortization (up to 50 years) and a discount on the insurance premium.
Can I really buy with 5% down?
Sometimes. Up to 95% financing is available on new construction at 50+ points and on existing buildings at 70+ points. At the 50-point entry level, an existing building gets up to 85%. You also need cash for the deposit, closing costs, and reserves, and the CMHC premium (often 4% to 7% of the loan at high leverage) is usually added to the mortgage.
How much net worth do I need?
CMHC's guide says borrower net worth must be at least 25% of the loan amount, with a $100,000 minimum, and there can be some flexibility at 100+ points. Most lenders also want to see liquid cash on top of the down payment. A mortgage broker confirms your exact numbers.
Does a fourplex with suites count?
You need at least 5 self-contained residential units. A new 4-unit rowhouse with 4 legal secondary suites is 8 units and is a common MLI Select build in Calgary. Ask the lender how they treat suites on one title versus condo-titled units.
Can I buy in Alberta if I live in BC or Ontario?
Yes, many investors do. Lenders look harder at out-of-province borrowers, so a professional property manager and a clear plan help. Rob is licensed in Alberta and BC and works with investors from both provinces.
What does it cost to work with Rob?
As a buyer's agent, Rob is normally paid by the seller or builder through the cooperating commission, so there is usually no direct cost to you. Mortgage broker, appraisal, energy model and CMHC fees are separate and are paid to those providers.
Talk to Rob
Rather just talk it through?
Call or text Rob with the building you are looking at, or what you want to own in five years. He will tell you straight if MLI Select fits.