Navigating CMHC Multi-Unit Insurance Post-June Policy Changes: What Investors Need to Know

Josh Perez • August 28, 2024

Is CMHC multi-unit insurance for investors dead after the recent policy changes in June? The answer is no, but the landscape has shifted, and it's crucial to understand these changes to navigate the new opportunities they present.

"The door has opened for value-add and BRRRR investors to get into better financing terms, categorized under new construction with this change."

One of the most impactful changes from this past June involves the classification of projects under CMHC’s MLI Select program, specifically concerning existing properties versus new construction. Many investors might not realize that CMHC MLI Select employs different point systems depending on whether a property is classified as existing or new construction.


In Canada, new construction is heavily incentivized through various financing programs, municipal development charges, and other benefits that don’t necessarily apply to existing apartment buildings. This incentivization makes it easier for projects categorized as new construction to earn more points, leading to better financing terms—like extended amortizations and higher loan-to-value ratios.


With the recent changes in June, the criteria for what qualifies as new construction have broadened. Now, certain existing structures can be categorized under new construction if they meet specific conditions. For instance, if a previous residential or commercial space was demolished to add additional residential units, or if commercial units are converted into residential spaces, these projects might now qualify for the new construction bucket within the MLI Select program.


This shift opens doors for value-add and BRRRR (Buy, Rehab, Rent, Refinance, Repeat) investors to secure better financing terms by fitting their projects into this newly defined category of new construction. While these criteria are often case-specific and require careful planning, the potential benefits make it worthwhile for investors looking to maximize their financing options.



If you're working on an apartment building project or exploring opportunities to expand your real estate portfolio, now is the time to take advantage of these changes. To discuss how these updates might apply to your projects and to explore the best financing terms available, feel free to schedule a call with me or send a DM. Let’s work together to optimize your investment strategy in this evolving market.

Josh Perez
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Your Guide To The A First Home Savings Account (FHSA)

By Josh Perez • July 23, 2025
Dreaming of owning your first home? A First Home Savings Account (FHSA) could be your key to turning that dream into a reality. Let's dive into what an FHSA is, how it works, and why it's a smart investment for first-time homebuyers. What is an FHSA? An FHSA is a registered plan designed to help you save for your first home taxfree. If you're at least 18 years old, have a Social Insurance Number (SIN), and have not owned a home where you lived for the past four calendar years, you may be eligible to open an FHSA. Reasons to Invest in an FHSA: Save up to $40,000 for your first home. Contribute tax-free for up to 15 years. Carry over unused contribution room to the next year, up to a maximum of $8,000. Potentially reduce your tax bill and carry forward undeducted contributions indefinitely. Pay no taxes on investment earnings. Complements the Home Buyers’ Plan (HBP). How Does an FHSA Work? Open Your FHSA: Start investing tax-free by opening your FHSA. Contribute Often: Make tax-deductible contributions of up to $8,000 annually to help your money grow faster. Withdraw for Your Home: Make a tax-free withdrawal at any time to purchase your first home. Benefits of an FHSA: Tax-Deductible Contributions: Contribute up to $8,000 annually, reducing your taxable income. Tax-Free Earnings: Enjoy tax-free growth on your investments within the FHSA. No Taxes on Withdrawals: Pay $0 in taxes on withdrawals used to buy a qualifying home. Numbers to Know: $8,000: Annual tax-deductible FHSA contribution limit. $40,000: Lifetime FHSA contribution limit. $0: Taxes on FHSA earnings when used for a qualifying home purchase. In Conclusion A First Home Savings Account (FHSA) is a powerful tool for first-time homebuyers, offering tax benefits and a structured approach to saving for homeownership. By taking advantage of an FHSA, you can accelerate your journey towards owning your first home and make your dream a reality sooner than you think.

Deciphering the Latest Housing Affordability Initiatives in Canada

By Josh Perez • July 16, 2025
In recent years, housing affordability has become a significant concern for many Canadians, particularly for first-time homebuyers facing soaring prices and strict mortgage qualification criteria. To address these challenges, the Canadian government has introduced several housing affordability measures. In this blog post, we'll examine these measures and their potential implications for homebuyers. Increased Home Buyer's Plan (HBP) Withdrawal Limit Effective April 16, the Home Buyer's Plan (HBP) withdrawal limit will be raised from $35,000 to $60,000. The HBP allows first-time homebuyers to withdraw funds from their Registered Retirement Savings Plan (RRSP) to use towards a down payment on a home. By increasing the withdrawal limit, the government aims to provide young Canadians with more flexibility in saving for their down payments, recognizing the growing challenges of entering the housing market. Extended Repayment Period for HBP Withdrawals In addition to increasing the withdrawal limit, the government has extended the repayment period for HBP withdrawals. Individuals who made withdrawals between January 1, 2022, and December 31, 2025, will now have five years instead of two to begin repayment. This extension provides borrowers with more time to manage their finances and repay the withdrawn amounts, alleviating some of the immediate financial pressures associated with using RRSP funds for a down payment. 30-Year Mortgage Amortizations for Newly Built Homes Starting August 1, 2024, first-time homebuyers purchasing newly built homes will be eligible for 30-year mortgage amortizations. This change extends the maximum mortgage repayment period from 25 years to 30 years, resulting in lower monthly mortgage payments. By offering longer amortization periods, the government aims to increase affordability and assist homebuyers in managing their housing expenses more effectively. Changes to the Canadian Mortgage Charter The government has also introduced changes to the Canadian Mortgage Charter to provide relief to homeowners facing financial challenges. These changes include early mortgage renewal notifications and permanent amortization relief for eligible homeowners. By implementing these measures, the government seeks to support homeowners in maintaining affordable mortgage payments and mitigating the risk of default during times of financial hardship. The recent housing affordability measures announced by the Canadian government are aimed at addressing the challenges faced by homebuyers in today's market. These measures include increasing withdrawal limits, extending repayment periods, and offering longer mortgage amortizations. The goal is to make homeownership more accessible and affordable for Canadians across the country. As these measures come into effect, it's crucial for homebuyers to stay informed about the changes and their implications. Consulting with a mortgage professional can help individuals explore their options and make informed decisions about their housing finances. If you're interested in learning more about these changes and how they may affect you, please don't hesitate to connect with us. We're here to walk you through the process and help you consider all your options and find the one that makes the most sense for you.