CMHC Mortgage Loans
      What is CMHC Mortgage Loan Insurance?

Mortgage loan insurance is typically required by lenders when homebuyers make a downpayment of less than 20% of the purchase price. Mortgage loan insurance helps protects lenders against mortgage default, and enables consumers to purchase homes with little or no downpayment — with interest rates comparable to those with a 20% downpayment.

As with any insurance, there are insurance premiums to be paid. The amount of the premium varies and can range between 0.65% and 2.75% depending upon how much of the purchase price/home value is financed with a mortgage loan.

Mortgage loan insurance is not to be confused with mortgage life insurance which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.

---

Return to: CMHC Mortgage Loans
or
CMHC Main Menu

---

Mike has answers to your questions and more professional tips to make your real estate transaction more pleasurable. Call or e-mail Mike or click on "Ask Your Own Questions." Mike can send you information on any Property Listed For Sale on the Multiple Listing Service in the Ottawa area. If you would like him to help you locate a home, please fill out his Information Request Form. Surfing the Real Estate Board's web site or MLS.CA and found a house that you like but doesn't give you the civic address. Mike can also help. Just fill out his Would like an address form, please ! Or perhaps you are considering selling your home in the near future, he can also offer you a Free No-Obligation Market Evaluation Form.

© Copyright 2009-2010 www.MikeHider.com all rights reserved.    Designed and Maintained by: John Smillie/Lasting Impressions