Ontario financing window closes Wednesday
A huge Ontario financing window closes Wednesday (September 30th).
Until September 30th, CMHC’s MLI Select lets projects qualify under the OLD energy standards or the new 2020 NECB rules. After Wednesday: the tougher new code only. Fewer points. Smaller discounts.
The math is real. 70 points unlocks 45-year amortization. 100 points gets 50 years plus a 30% premium discount. A Grimsby developer just closed a 90-unit purpose-built rental at 95% loan-to-cost.
Everyone complains about rates. The developers cashing in aren’t complaining.
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