Compare commercial debt products
Sort by any column. The last column is what actually matters on most files: annual debt service per $1,000,000 borrowed, which folds amortization and rate into a single number.
Which product services most cheaply per million borrowed?
CMHC MLI Select — $50,526 a year per $1M at 4.05% over 40 years. That is a servicing cost, not a total cost: insurance premiums, fees, prepayment terms, and recourse are not in this column.
| CMHC MLI Select | 1 | 4.05% | 90 | 85% | 1.10x | 40 | 10 | $50,526 |
| Multi-Residential Financing | 2 | 4.75% | 160 | 75% | 1.20x | 30 | 5 | $62,598 |
| Industrial Financing | 2 | 4.90% | 175 | 70% | 1.30x | 25 | 5 | $69,453 |
| Commercial Refinance | 2 | 5.00% | 185 | 75% | 1.25x | 25 | 5 | $70,151 |
| Commercial Mortgage | 1 | 5.05% | 190 | 70% | 1.25x | 25 | 5 | $70,501 |
| Portfolio Financing | 3 | 5.15% | 200 | 68% | 1.30x | 25 | 5 | $71,204 |
| Owner-Occupied Financing | 3 | 5.25% | 210 | 75% | 1.25x | 20 | 5 | $80,861 |
| CMBS Conduit Debt | 3 | 5.30% | 215 | 65% | 1.40x | 30 | 10 | $66,637 |
| Retail & Office Financing | 2 | 5.60% | 245 | 60% | 1.35x | 20 | 5 | $83,226 |
| BDC Small-Business Property Loan | 3 | 6.15% | 300 | 75% | 1.20x | 20 | 5 | $87,013 |
| Construction Financing | 1 | 6.90% | 375 | 65% | 1.00x | IO | 2 | $84,050 |
| Bridge Loan | 1 | 7.65% | 450 | 70% | 1.05x | IO | 1 | $89,853 |
| Land Financing | 2 | 8.40% | 525 | 50% | 0.00x | IO | 2 | $95,820 |
| Private & Hard-Money Lending | 3 | 10.15% | 700 | 65% | 1.00x | IO | 1 | $110,316 |
| Mezzanine Financing | 2 | 11.65% | 850 | 85% | 1.00x | IO | 3 | $123,295 |
How these figures were produced
- Observed — Recorded directly from the cited source series, unadjusted.
- Modelled — Derived arithmetically from observed inputs using the published method; not a market quote.
Which Canadian commercial debt product is cheapest?
CMHC MLI Select carries the tightest indicative spread at 4.05%. Cheapest headline rate is rarely cheapest capital: insured products trade rate for premiums and covenants, and short-term products trade rate for speed and flexibility.
Which product allows the highest leverage?
CMHC MLI Select, at roughly 85% LTV. High leverage is usually paid for in coverage tests, insurance premiums, or recourse rather than in the rate itself.
Why compare cost per $1M instead of rate?
Because amortization moves annual cost as much as rate does. A 40-year insured amortization at a higher rate can service more cheaply than a 20-year conventional loan at a lower one — the per-million column makes that visible.
Are these rates offers?
No. They are index benchmarks: the Government of Canada 5-year yield plus a published per-product spread. Capitalor does not originate, broker, or place debt.
Not advice — Capitalor is a data publisher. We do not originate, broker, arrange, or place debt, and nothing here is an offer of credit, a quote, or financial advice. Figures are indicative benchmarks for comparison and must be confirmed with a licensed lender or mortgage professional before you rely on them. About Capitalor