The Canada Mortgage and Housing Corporation (CMHC) APH Select program allows rental property owners to obtain mortgage loan insurance relief for the construction, purchase or refinancing of multi-family residential buildings of 5 units or more. It was designed to encourage the preservation and creation of affordable, accessible and energy efficient housing.
MLI Select can give you access to the following flexibilities among others:
- An increase in the loan-to-value ratio;
- An extension of your amortization period (up to 50 years);
- A decrease in your down payment;
- A decrease in minimum debt coverage ratios;
- And a reduction in your insurance premiums.
Our team of qualified specialists can help you access program flexibilities as part of an energy efficiency assessment. It will assist you in validating the commitments related to your application by producing a report and a software energy simulation, both of which are necessary for your financial institution to submit your file to CMHC.
Is your project a new construction?
You could already benefit from level 1 in energy efficiency by choosing a certified building Novoclimat .
Only an engineer, architect, Certified Engineering Technician (CET) or Certified Energy Manager (CEM) can produce a compliant energy model.
Flexibilities are established through a scoring system established by CMHC covering three distinct categories. The score varies according to different levels to be reached and certain criteria in each of the said categories. This means borrowers can choose to commit to one or more levels, but must earn a minimum of 50 points to be eligible for some of the benefits of the MLI Select program.
Energy efficiency
This score is based on the percentage of improvement in your building’s energy performance compared with a baseline: the building code in force for new buildings, or the current, pre-retrofit performance of an existing building.
New construction:
- Level 1 (20 points) – At least 20% better than NECB/NBC requirements.
- Level 2 (35 points) – At least 25% better than NECB/NBC requirements.
- Level 3 (50 points) – At least 40% better than NECB/NBC requirements.
Existing properties:
- Level 1 (20 points) – A minimum 15% reduction from current baseline levels.
- Level 2 (35 points) – A minimum 25% reduction from current baseline levels.
- Level 3 (50 points) – A minimum 40% reduction from current baseline levels.
Accessibility
This score is based on the percentage of units in the project that are accessible under CSA standard B651-18 or universal design, or that hold a Rick Hansen Foundation accessibility certification. See the scoring table and criteria for this category here.
Affordability
This score is based on the percentage of units in the project with rents at or below the threshold set for the target market. See the scoring table and criteria for this category here.
The benefits of the MLI Select program are numerous.
For more information on the program or to better understand the different criteria and possibilities that apply to your project, please contact us and we will be able to assist you.
Relevant resources
