As a licensed mortgage agent and seasoned advocate for helping Canadians navigate real estate financing, I know how critical it is to match clients with the right lender—especially when the financing involves complex, high-leverage multifamily transactions. Today, I’m pleased to introduce you to PeakHill Capital, one of Canada’s most sophisticated CMHC-approved lenders specializing in multifamily residential financing.
Whether you’re developing purpose-built rentals, acquiring stabilized income properties, or seeking long-term financing under CMHC’s MLI Select program, PeakHill brings depth, insight, and executional excellence to every file. Here’s what you need to know about this lender—and why their expertise could be the solution you’ve been searching for.
What is the CMHC MLI Select Program?
What Sets PeakHill Capital Apart
Who Is PeakHill Capital?
PeakHill Capital is one of the largest CMHC-insured multifamily lenders in Canada. In 2024 alone, they are on track to fund over 700 CMHC loans totalling more than $6.5 billion. Their loans range in size from $1 million to over $300 million and span the full range of multifamily asset types—from social housing to student rentals, retirement residences, and large-scale apartment buildings.
PeakHill is not a traditional bank. They are a non-bank, CMHC-approved lender. This distinction is important. As a direct lender with a specialized credit team, PeakHill has greater flexibility than conventional banks when it comes to underwriting strategy, structuring, and navigating CMHC guidelines. Their direct relationship with CMHC gives them insight and influence into how files are reviewed and approved, which can make all the difference when time, complexity, or creativity are involved.
What is the CMHC MLI Select Program?
The CMHC MLI Select Program is a specialized mortgage insurance product offered by Canada Mortgage and Housing Corporation (CMHC) to support the construction, purchase, or refinancing of multi-unit residential properties that meet specific social, environmental, and accessibility goals.
This program is designed to encourage the development of more affordable, sustainable, and accessible rental housing in Canada. It builds upon CMHC’s standard mortgage insurance but offers enhanced benefits in exchange for meeting these public interest objectives.
What Makes MLI Select Unique?
Instead of a one-size-fits-all model, MLI Select uses a flexible “point-based system”. Borrowers earn points based on how well their project supports affordability, energy efficiency, and accessibility. The more points earned, the more favourable the mortgage insurance terms.
Key Benefits of the MLI Select Program
| Feature | Standard CMHC Insurance | MLI Select |
| Max Loan-to-Value (LTV) | Up to 85% | Up to 95% |
| Debt Coverage Ratio (DCR) | 1.30 (typical) | As low as 1.10 |
| Amortization Period | Up to 40 years | Up to 50 years |
| Insurance Premiums | Standard rates | Lower premiums for higher point totals |
| Eligible Property Types | Most multi-unit rentals | Same, with extra incentives for affordable, green, accessible housing |
How the Point System Works
To qualify for MLI Select, borrowers must achieve at least 50 points across the three focus areas:
1. Affordability
- Provide below-market rents for a percentage of units.
- Commit to affordability over time (typically 10+ years).
- Points awarded based on the percentage of affordable units.
2. Energy Efficiency
- Improve or exceed energy efficiency targets (e.g., reduce GHG emissions by 25-40%).
- Must be verified through professional reporting (e.g., EnerGuide, modeling).
3. Accessibility
- Include accessible features in units and common areas (e.g., barrier-free design, elevators, adaptable kitchens/bathrooms).
Each focus area contributes to your total score. The higher the score, the more favourable the loan terms, such as lower premiums and extended amortization.
Who Should Use MLI Select?
Ideal borrowers include:
- Rental housing developers targeting affordability or sustainability.
- Non-profits or co-ops building housing for vulnerable populations.
- Private investors upgrading older properties to meet green and accessibility goals.
- Municipal housing corporations or joint ventures seeking high-leverage, long-term financing.
About MLI Select
MHC’s MLI Select program is one of the most powerful tools in Canada for improving access to affordable and sustainable rental housing—and for developers and investors, it provides unmatched flexibility, cost efficiency, and leverage.
As a mortgage agent, I help clients analyze whether they qualify, maximize their point score, and work with lenders like PeakHill Capital who specialize in MLI Select underwriting. If you’re exploring a new multifamily project or refinancing an existing one, this program could unlock significant advantages.
Why Choose PeakHill Capital?
If you’re investing in, refinancing, or constructing multifamily real estate in Canada, here are three compelling reasons to consider PeakHill Capital:
- Mastery of CMHC’s MLI Select Program
- Unparalleled Underwriting Expertise
- Bridge, Term, and Construction Financing Solutions
Mastery of CMHC’s MLI Select Program
PeakHill has built its reputation on expertly navigating the CMHC MLI Select program, which provides favourable mortgage insurance terms to properties delivering affordability, accessibility, and climate-conscious design. Roughly 70% of PeakHill’s new originations now fall under MLI Select, and they are well-versed in the evolving point system that unlocks extended amortizations (up to 50 years) and high loan-to-cost ratios (up to 95%).
Unparalleled Underwriting Expertise
Their underwriting process is rigorous yet borrower-friendly. PeakHill’s team collects comprehensive financial data up front and provides borrowers with precise insights into loan sizing, valuation, and eligibility. With a deeply experienced team—including former CMHC insiders—they prepare high-quality submissions that pass CMHC’s scrutiny faster and more reliably than average.
Bridge, Term, and Construction Financing Solutions
In addition to CMHC-insured loans, PeakHill offers bridge loans, term loans, and conventional construction loans. These can be structured to help borrowers optimize acquisition timing, complete renovations, or strategically delay CMHC takeouts to achieve higher stabilized rents. Their flexibility and speed—often closing bridge loans in as little as two weeks—makes them a valued strategic partner for developers and investors alike.
Who Is the Ideal Client?
PeakHill Capital is best suited for:
- Real estate investors acquiring or refinancing multifamily buildings (12 units or more)
- Developers constructing purpose-built rental housing
- Non-profit or mixed-income housing providers pursuing affordability mandates
- Sustainability-focused builders aiming to qualify for CMHC’s green financing incentives
- Operators converting existing assets (e.g., office-to-residential) who need expert guidance on non-standard applications
They work exceptionally well with borrowers who are organized, proactive, and have a clear financial plan, but they also support newer borrowers by walking them through documentation and providing education along the way.
What Sets PeakHill Capital Apart
What truly distinguishes PeakHill is their strategic alignment with CMHC, paired with a high-touch, transparent borrower experience. They take on the heavy lifting—underwriting, valuation modeling, third-party reports, portfolio analysis—and package everything to CMHC’s exacting standards. Their approach dramatically reduces back-and-forth and accelerates approvals.
Additionally, PeakHill actively helps clients evaluate whether it’s best to apply now or wait to optimize financing outcomes. They offer sophisticated modeling for rent growth projections, capital planning, and takeout strategies—something very few lenders do.
My Final Thoughts
In a market where CMHC programs are evolving and housing affordability is both a public mission and private opportunity, PeakHill Capital is a standout financing partner. If you are pursuing CMHC-insured financing or navigating multifamily development in Canada, this is a lender I trust and recommend confidently.
As always, if you’d like an introduction, or to review whether your project is a fit for PeakHill’s offerings, I’d be happy to walk you through it.
Let’s build the future of Canadian housing—together.
