The Apartment Construction Loan Program provides low-cost repayable financing during the riskiest phase of a rental development, from construction through to stabilized operations.
The Apartment Construction Loan Program provides low-cost repayable financing during the riskiest phase of a rental development, from construction through to stabilized operations. It is a loan, not a grant: the full amount is repaid. CMHC delivers it under the National Housing Strategy with rolling applications.
For-profit developers, non-profit developers and other eligible borrowers building new purpose-built rental apartments, or converting non-residential buildings to rental housing. Projects must be permanent and meet CMHC's affordability requirements.
Verified against the official source
A person checked this program against the administering body's own page on that date. Programs change between checks, so confirm eligibility, amounts and deadlines before you apply. How dates like this are earned: our verification methodology.
