MLI Select is CMHC's mortgage loan insurance program offering the most favourable terms on the market for rental buildings: extended amortization (up to 50 years depending on the score), a higher loan-to-value ratio and a reduced insurance premium. In return, the building must earn points for affordability, energy efficiency or accessibility.

Groupe Jinco specializes in this program for multi-residential buildings across Quebec. We build the file, optimize the score and present it to the lenders best suited to your project.

 

What MLI Select can do for you

• Monthly cash flow: a 40- to 50-year amortization can significantly lower payments, improving the building's cash flow or allow for a higher Loan-to-Value (LTV) ratio up to 95%.

• Equity take-out: on a refinance, a higher loan-to-value ratio lets you recover part of your down payment for your next purchase or for renovations.

• Lower insurance cost: the CMHC premium decreases as your score increases.

• Competitive rates: a CMHC-insured loan generally gets better rates than conventional financing.

 

How the scoring works

Scoring is based on three criteria. The total number of points (50, 70 or 100) determines the benefits granted.

• Affordability: a commitment to keep a portion of the units below a rent level set by CMHC, for a minimum of 10 years.

• Energy efficiency: a reduction in energy consumption (compared with current performance for an existing building, or with the building code for new construction), confirmed by a qualified professional.

• Accessibility: accessible units or universal design, beyond the minimum requirements.

In many existing Montreal buildings, current rents already qualify for affordability points, often with no change to your operations. A preliminary analysis can confirm this quickly.

 

Who it's for

• Owners of 5+ unit buildings looking to refinance or renew

• Buyers of multi-residential buildings

• Developers of new rental projects (construction financing and permanent take-out financing at completion)

 

How we work

1. Free preliminary analysis: based on the rent roll and operating expenses, we determine the financeable amount and the potential score.

2. File preparation: appraisal, energy report and CMHC documents coordinated for you.

3. Lender competition: banks, credit unions and other CMHC-approved lenders.

4. Support through to funding and for any future needs.

 

Recent transactions

• MLI Select refinance, 6 units, Montreal: $2,180,000

• MLI Select refinance, 14 units, Montreal: $3,431,100

• MLI Select completion take-out financing, 8 units, Montreal: $2,585,000

 

Frequently asked questions

How many units are required?

At least 5 residential units. The commercial portion must be limited to 30% of the space.

Do I need to renovate to earn points?

Not necessarily. Affordability alone can be enough in some cases, depending on current rents.

Are your services available outside Montreal?

Yes, everywhere in Quebec. We also finance elsewhere in Canada through our partners.

How much does your analysis cost?

The preliminary analysis is free and without obligation.