MCAP Blog

Introduced in March of 2022, the Canada Mortgage and Housing Corporation (CMHC) MLI Select program offers commercial developers a mortgage loan insurance product focused on affordability, accessibility, and climate compatibility. The goal of this government-backed initiative is to promote investment in affordable housing for Canadians – something that is needed in the current housing and rental market. For developers, the benefits of using MLI Select include access to reduced premiums, reduced debt service coverage and longer amortization periods, and improved affordability during construction. Existing property owners can also access the program based on program criteria.

Buildings are a significant source of energy consumption and greenhouse gas (GHG) emissions in Canada. In fact, Canada's homes and buildings account for 13% of national GHG emissions. Introducing more energy efficiency when developing new or retrofitting buildings can help address climate change in a meaningful way – plus increased energy efficiency can provide other advantages for builders, owners and tenants.

Leo St-Germain has been with MCAP since the inception of the Commercial Mortgages Group – today, he is the Vice President of Origination, leading a large team of originators .

If you’re looking to add value to your building – and need capital to make that happen – you have a few financing options you can consider. Whether you’re making repairs, renovations or energy efficiency upgrades, you can increase the value of your property and the return on your investment by leveraging your commercial property mortgage.

If the term on your commercial mortgage is expiring within the next year, now might be a good time to start thinking about renewal. While you may have been through the renewal process several times before, today’s fluctuating interest rate environment may have some impact on your timing, approach and next steps this time around. Getting ready for your renewal and discussing available options with your lender now can help you choose the best mortgage option for your financing, cashflow and future project needs.