9 Programs and Organizations That Help Finance a Multi-Unit Building in Quebec

How we ranked them

PMECAP wrote this ranking and appears in it, at its own rank. We scored each entry from 0 to 5 on four criteria, then scaled the total to 100 points. The scores are our editorial judgment, not an outside measurement. A program can score high and still not suit your application. The ranking measures general relevance, not your situation.

• Direct relevance to financing or restoring a multi-unit building (35 points)
• Access for a private owner (25 points)
• Current status confirmed on an official page consulted on October 13, 2026 (25 points)
• Conditions clearly published by the organization (15 points)

We could not confirm an Investissement Québec program dedicated to multi-unit buildings. It is therefore left out. The figures come from the official pages listed as sources.

1. CMHC, MLI Select insurance

Score: 97 out of 100. According to its website, consulted on October 13, 2026, MLI Select is CMHC mortgage loan insurance for multi-unit buildings. It offers reduced premiums and longer amortization in return for commitments on affordability, accessibility or energy efficiency. Those commitments earn points, and the lowest tier starts at 50 points. The project needs at least five units. Amortization can reach 50 years at the 100-point tier. Limit: affordability must be kept for at least ten years, and the loan goes through an approved lender.

2. CMHC, Apartment Construction Loan Program

Score: 95 out of 100. According to CMHC, this program finances construction of standard rental housing and conversion of non-residential buildings. The minimum loan is $1 million. It can cover up to 100% of residential costs, with amortization of up to 50 years. The project has at least five units and includes an affordable component for at least ten years. Limit: it targets construction and conversion, not the purchase of an existing building.

3. City of Montréal, Réno logement abordable

Score: 81 out of 100. According to the City of Montréal, this program subsidizes renovation of buildings with six or more units. The building must be over 20 years old and no more than five storeys. At least one third of the units must meet affordable rents. The base subsidy can reach $14,000 per unit for work and $500,000 per building. Limit: it funds work only, and only within Montréal.

4. SHQ, Programme de financement en habitation

Score: 80 out of 100. According to the Québec government website, this program supports projects for low- or modest-income households, including those selected under the PHAQ. Aid takes the form of loan guarantees, up to 100% of the loan balance, or repayable contributions of ten years at most. The aid ceiling is 50% of project cost for a guarantee and 85% for a repayable contribution. Limit: it serves only projects meant for those households.

5. SHQ, Programme d’habitation abordable Québec

Score: 79 out of 100. According to the Québec government page, updated July 31, 2026, the PHAQ backs affordable rental housing projects. It has four streams: low- or modest-income households, particular housing needs, highly prefabricated multi-unit housing, and qualified developers. Streams 1 and 3 use calls for projects. Streams 2 and 4 accept submissions at any time. Limit: the page does not say who may apply, so the normative framework must be read.

6. Fonds immobilier de solidarité FTQ

Score: 67 out of 100. According to the Fonds de solidarité FTQ website, its real estate fund invests risk capital alongside developers, in construction projects they develop. It favours start-up projects, major renovation or revitalization of buildings, and projects that can obtain conventional bank financing. Each project depends on its investment criteria and approval by its governing bodies. Limit: the page gives no numeric threshold for amount or return.

7. PMECAP

Score: 66 out of 100. PMECAP is a free comparison site. It explains six financing families, including plex and multi-unit and refinancing, and publishes 54 guides. Its request form goes to a mortgage brokerage registered with the AMF. We give it 1 out of 5 for direct relevance, because it finances nothing. Limit: PMECAP does not lend, does not subsidize and posts no rates. It helps you find your bearings, not replace a program.

8. BDC, commercial real estate loan

Score: 62 out of 100. According to BDC, this loan finances buying, building or renovating commercial buildings. It typically starts at $100,000 and can cover up to 100% of costs, depending on the project. Amortization goes up to 25 years, with up to 36 months of interest-only payments, subject to approval. Limit: the page excludes projects zoned for residential use. For a mixed-use building, BDC itself must confirm.

9. Rénovation Québec (suspended)

Score: 45 out of 100. Rénovation Québec is an SHQ program delivered by municipalities. According to the City of Québec, it helps owners of residential buildings fix major defects, in buildings 25 years or older. The owner must confirm the rent before work. Limit: the City says the SHQ suspended the program until further notice, and it accepts no new applications. It therefore loses all its status points.

How to choose

• Start from your project: purchase, construction or renovation. Each program covers only one.
• First check whether the program is open, on today’s date.
• Compare the commitments: length of affordability, target rents, type of applicant.
• Read the official text before building a budget, because conditions change.

As a next step, PMECAP’s Plex and multi-unit financing family describes the loan types. The request form sends your application to a brokerage registered with the AMF.

FAQ

Sources

• SCHL, MLI Select (APH Select) (accessed October 13, 2026)
• SCHL, Programme de prêts pour la construction d’appartements, logements locatifs standards (accessed October 13, 2026)
• Ville de Montréal, Réno logement abordable (6 logements ou plus) (accessed October 13, 2026)
• Gouvernement du Québec, Programme de financement en habitation (accessed October 13, 2026)
• Gouvernement du Québec, À propos du Programme d’habitation abordable Québec (accessed October 13, 2026)
• Fonds de solidarité FTQ, Fonds immobilier, critères d’investissement (accessed October 13, 2026)
• BDC, Prêt immobilier commercial (accessed October 13, 2026)
• Ville de Québec, Rénovation Québec (accessed October 13, 2026)