Premium Cost Estimator
Estimate your CMHC insurance premium and see how MLI Select points reduce your costs.
1
Loan Details
Why you're getting the loan. Construction = building something new (higher premiums). Purchase/Refinance = buying an existing building or replacing its current mortgage.
Standard Rental is a regular apartment building. 'Other' includes student housing, retirement homes, supportive housing, and SROs — these have higher premiums because they're considered higher risk.
2
Financing Parameters
$5,000,000
How much of the property value you're borrowing. Higher leverage = higher premium. At 95% LTV the base premium is significantly higher than at 65% LTV.
Loan Amount: $4,250,000
Longer amortization = surcharge. CMHC adds 0.25% to your premium for every 5 years beyond 25. So a 50-year amortization adds 1.25% in surcharges.
3
MLI Select Points
Your score earns you a discount on the premium. 50 points = 10% off. 70 points = 20% off. 100 points = 30% off. This is why maximizing your score saves real money.
0 (No discount)50 (10%)70 (20%)100 (30%)
4
Additional Factors
If there's another loan behind the CMHC-insured mortgage, there's a 0.50% surcharge. Most MLI Select deals don't have one.
EGI = Effective Gross Income. This means your building is already earning the rental income CMHC projected. If it's not (e.g., still leasing up), there's a 0.25% surcharge. Doesn't apply to construction loans.
If your building has commercial space (retail, offices), there's a 1.00% surcharge on that portion. The commercial part can't exceed 30% of the building.
Select Loan Details
Choose your loan purpose and shelter type to see premium estimates.
Results are illustrative only based on the CMHC July 2025 premium framework. Actual premium rates are determined by CMHC during the application review process. Always verify current rates at cmhc-schl.gc.ca.