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MLI SELECT

Comprehensive guide to CMHC’s MLI Select mortgage loan insurance program for multi-unit rental properties in Canada.

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Last updated March 2026

This website is not affiliated with, endorsed by, or officially connected to the Canada Mortgage and Housing Corporation (CMHC). All calculator results are for illustrative and educational purposes only and do not constitute financial, legal, or investment advice. Always consult qualified professionals and verify current guidelines at cmhc-schl.gc.ca.

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Cash Flow Comparison

See how MLI Select financing compares to conventional lending on your multi-unit rental property.

The total purchase price or appraised value of the building. For new construction, this is the total development cost.
$5M
How many rental apartments or suites are in the building. MLI Select requires a minimum of 5.
50
The average monthly rent you expect to collect per unit. Include both market-rate and affordable units in this average.
The percentage of your rental income that goes to expenses like property tax, insurance, maintenance, property management, and utilities. 35% is typical for well-managed multi-unit buildings.
35%
Your project's score from the Score Calculator. This determines your LTV and amortization — which directly affects your monthly payment and cash flow.
70

MLI rate: 3.65% (CMB-backed). Conventional: 5.5%, 75% LTV, 25yr amort. These are illustrative defaults — actual terms vary.

MLI SELECT
Conventional
Down Payment
The cash you need upfront. With MLI Select at 95% LTV, you only need 5% of the property value. Without it, banks typically require 25%.
$250,000$1,250,000
Loan Amount
$4,750,000$3,750,000
Interest Rate
3.6%5.5%
Amortization
45 yrs25 yrs
Monthly Mortgage
Your monthly loan payment including principal and interest. Lower payment = more cash in your pocket each month.
$17,925$23,028
Monthly NOI
Your rental income minus operating expenses, BEFORE paying the mortgage. This is the money available to cover your loan payment.
$48,750$48,750
Monthly Cash Flow
What's left after paying the mortgage from your NOI. Positive = money in your pocket every month. Negative = you're paying out of pocket. This is the number that matters most.
$30,825$25,722
Cash-on-Cash Return
Your annual cash flow divided by your down payment. It tells you the percentage return on the actual cash you invested. 10% means you earn $10 per year for every $100 you put in.
148.0%24.7%
DSCR
How many times your NOI covers your mortgage payment. CMHC requires at least 1.10x for standard rental — meaning your income is at least 10% more than your mortgage. Higher is safer.
2.72x2.12x
Down Payment Saved
+$1,000,000
Monthly Advantage
+$5,103
Annual Advantage
+$61,240

Need investor-grade financials?

Get a Pro Report with full cash flow projections →

This comparison uses simplified assumptions. Actual financing terms depend on lender requirements, property specifics, and current market conditions. Always consult with a qualified mortgage professional.

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Results are illustrative only. Actual financing terms depend on lender requirements, property specifics, and current CMHC guidelines. Always verify at cmhc-schl.gc.ca.