CMHC insured mortgages

CMHC Mortgage Loan Insurance empowers approved lenders to assist borrowers in acquiring multi-unit properties with a minimal down payment requirement of 15%. This insurance program offers borrowers the advantage of competitive interest rates throughout the mortgage's lifespan, coupled with a diminished risk during renewal. CMHC mortgages come with flexible financing terms, encompassing extended amortization periods, and options for both fixed and floating interest rates, applicable to both first and second mortgage products.

Key CMHC Benefits:

1. Flexibility: Borrowers can secure mortgage financing up to 85% of the property's lending value, providing greater financial flexibility.
2. Lower Interest Rates: CMHC-insured financing ensures access to competitive interest rates for the entire duration of the mortgage, enhancing affordability.
3. Reduced Renewal Risk: CMHC Mortgage Loan Insurance incorporates product features tailored to meet project financing needs, thereby streamlining the renewal process.
4. Availability: This insurance is accessible for both new and existing multi-unit residential properties, spanning diverse categories such as rental, student housing, retirement, and long-term care facilities across the entire geographic spectrum of the country.