Axel shares a FULL breakdown of all the documents required to be able to apply for CMHC’s MLI funding and explains in detail what each one is for. They fall into 4 categories: project information, third party reports, borrower information and guarantor information.

 

Additionally he talks about the importance of a guarantor's brief summary, why and how you should be organized when sending the docs and the importance of real estate education. 

 

The CMHC MLI program offers scaling flexibility to encourage the preservation and creation of affordable, accessible and climate compatible units. It focuses on providing term financing to apartments and multifamily buildings in Canada and facilitating construction. 

 

You can go up to a 95% LTV (loan to value) on your construction project and can benefit from an extended amortization as long as you meet certain requirements that fall into the categories of accessibility, affordability and energy efficiency. This program has a point-based system; in each category you score a certain amount of points and depending on the total amount of points you qualify for certain criterias and features of the program.

 

Dive in! Save time and find out all that is needed to finance up to 95% of your project! 

 

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Mentioned resources:

CMHC/SELECT PROGRAM

 

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