Tax and regulatory
CMHC
Also known as: Canada Mortgage and Housing Corporation
Canada Mortgage and Housing Corporation. The federal Crown corporation that insures lender risk on high-ratio mortgages (under 20% down on a primary residence) and runs the MLI Select program for multi-unit rentals. Sagen and Canada Guaranty are private mortgage insurers that compete in the same space.
As of December 2024, CMHC raised the insured cap to $1.5M (from $1M) and extended 30-year amortizations to first-time buyers and certain insured-rental categories. Both changes interact with the B-20 stress test to expand qualifying ceilings on insured purchases.
For multi-unit purpose-built rental, CMHC's MLI Select program is typically the cheapest financing in Canada when the file qualifies.
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