Mortgage loan insurance: supportive housing

Our flexibilities are available for first, second and pari passu mortgages on any eligible supportive housing. To be eligible, your project must: 

• have at least 5 units
• offer your tenants access to support services on- or off-site
• be at least 70% residential in terms of both floor area and the total loan value
• have a maximum loan-to-value ratio of 85%
• not be subject to any prohibition under the Prohibition on the Purchase of Residential Property by Non-Canadians Act

In addition, the borrower or co-borrower must have:

• at least 5 years' experience owning or operating a similar facility, or
• a long-term contract with a property management firm with this record of experience

You must also have a net worth of at least 25% of the value of the loan. Plus, you must be able to guarantee 100% of the loan until you have 12 consecutive months of stable rents. 

For applications received after March 7, 2022, please refer to the energy efficiency incentives available through our MLI Select product.

For applications received prior to March 7, 2022 borrowers with energy efficient projects may qualify for a 10-15% refund on their loan insurance premiums. For more information, please contact one of our Client Relationship Managers.

For more details about our mortgage insurance tools, including:

• types of housing
• eligibility requirements
• application fees and premiums
• required documentation
• replacement of covenant
• Multi-unit insurance servicing
• Report of loans in arrears for multi-unit properties
• and funding opportunities

You can:

• fill out a Certificate of Insurance — application form (PDF) **Important: To use this interactive PDF, right click (Ctrl + click on Mac) the link to save the file, and then open it in Adobe Acrobat.
• contact one of our Client Relationship Managers