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What’s in it for You?
You could become a homeowner sooner, even if you have difficulty saving for a down payment. If your lender obtains CMHC Mortgage Loan Insurance for your loan, you could purchase a home with little or no down payment.
CMHC’s Mortgage Loan Insurance can be applied to many different types of housing.
CMHC’s Mortgage Loan Insurance is available everywhere in Canada.
CMHC has several flexible products and options to help you and your lender to tailor your finances to your unique situation.
A wide range of CMHC products are available through your lender. For example, if your house needs renovations, refinancing or if you are moving to another home, please check with your lender or mortgage broker on qualifying criteria for these flexible mortgage insurance options. Ask your lender about getting pre-approved for CMHC Mortgage Loan Insurance — this way you can find out beforehand how much of a loan you can qualify for..
CMHC’s Mortgage Loan Insurance can help your lender meet your needs in many different ways. To learn more, read the Frequently Asked Questions about CMHC Mortgage Loan Insurance.
Simply click below to take a look at the examples that highlight the potential benefits of mortgage loan insurance from CMHC.
Example #1: Interest savings through mortgage loan insurance
Example #2: Build equity sooner
What’s in it for Canadians?
The Canadian housing finance system has benefited over the years from the simplicity and stabilizing effect of mandatory mortgage loan insurance. This insurance eliminates the risk to lenders, allowing them to offer borrowers like you mortgage funding at much lower interest rates and with smaller down payments than would otherwise be required.
Mandatory mortgage loan insurance provides a necessary safety net to the financial system, helping to ensure the availability of mortgage funding during times of recession and economic downturns.
Disclamer
The examples on this site are provided for illustrative and estimative purposes only. The data and information on this site is considered reliable at the time presented, however in the housing market, rates, terms and conditions may change daily. Despite our best efforts, CMHC cannot guarantee that the information is accurate or complete or that it is up to date at all times. Although considerable care has been taken in preparing and maintaining the information and materials, they are provided on an "as is" basis without warranty of any kind, express or implied. CMHC assumes no responsibility or liability of any kind and CMHC shall not be liable for any special, indirect or consequential damages in connection to the information provided. This site is not intended to provide financial or other advice and should not be relied upon in that regard. Neither CMHC nor any of its employees, agents, or advisors shall have any liability for the accuracy of the illustrations herein or for any damage caused by or related to the use of any of this information.
Return to: CMHC Mortgage Loans
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