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CMHC for Consumers November 2006

CMHC for Consumers
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Buying a Home
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Homebuying Step by Step — Interactive Version
Consumer E-Newsletter Step Through the Life-Cycle of Your Home
First Time Home Buyers Benefit from Lower Costs
Home to Canadians for the past 60 years.
 
Consumers > Mortgage Loan Insurance 
Mortgage Loan Insurance

Mortgage Loan Insurance

Did you know that as a Canadian, you benefit from a housing finance system that is the envy of the world? You don’t need to delay buying a home to save more for your down payment. Mortgage loan insurance from CMHC makes this possible. And when you buy your home sooner, you grow equity faster AND benefit from interest rates that are comparable to someone buying with a 25% down payment. That’s what CMHC’s Mortgage Loan Insurance can do. It is available in every region of the country.








In This Section:
    • Home Buyers Benefit From Lower Costs
      • Effective June 28, 2006, CMHC is helping to make homeownership more affordable and accessible for Canadians by eliminating homeowner high ratio mortgage insurance application fees, extending amortizations and offering more flexible repayment options.
      • Effective April 22, 2005, Canadians buying a home with a down payment of less than 10% can benefit from a reduction in mortgage loan insurance premiums.
      • FAQ: CMHC Mortgage Loan Insurance
        Frequently Asked Questions on mortgage loan insurance.
      • Mortgage Calculator
        This tool will calculate the maximum house price you can afford, the maximum mortgage amount you can borrow, and your monthly mortgage payments.