Category Archives: Mortgage

CMHC Tightens Mortgage Rules; An Interactive Timeline of the Corporation’s History

CMH Mortgage Rules 2014 | Resider

CMHC (Canada Mortgage and Housing Corporation) is a Crown corporation of the Government of Canada that provides residential mortgage loans to Canadian home buyers paying under 20% down payment to as low as 5%. These high-ratio mortgages must be insured by a third-party such as CMHC, or Genworth Financial Canada, and impose an insurance premium. The inception of CMHC roots back to 1946 during the post World War II era, where the government assisted returning soldiers by offering low-cost mortgages with small down payments under favourable terms, to accommodate their desires to have families.

Continue Reading