Homeownership Products and Premiums (1 — 4 units)

Find and compare the best mortgage insurance products for your clients:

CMHC Product Overview

CMHC Purchase
Enables homebuyers to purchase a home with a minimum down payment starting at 5 per cent.

CMHC Portability
Allows borrowers to port the CMHC Mortgage Loan Insurance from an existing home to a new home and in some cases save money by reducing or eliminating the premium on the financing of the new home.

CMHC Refinance
Allows borrowers to refinance their mortgage up to 80% of its current value or as improved value.

CMHC Improvement
Offers greater choice to borrowers who are building new homes or who want to undertake small or large scale improvements to existing homes.

CMHC Newcomer
Provides newcomers to Canada, with permanent or non-permanent residence status, access, to CMHC mortgage loan insurance products through Approved Lenders.

CMHC Green Home
Provides mortgage loan insurance for the purchase of  an energy-efficient home or to make energy-efficient improvements to an  existing home. Borrowers may be eligible for a 10 per cent mortgage  insurance premium refund.

CMHC Income Property
Provides investors with more housing finance choice when buying or refinancing a 1 – 4 unit rental property.

CMHC Self-Employed
Allows self-employed borrowers, with traditional third-party validation income, to realize their dreams of homeownership.

CMHC Chattel Insurance
Assists the financing of owner-occupied manufactured or floating homes where a traditional real estate mortgage may not be possible.

CMHC Self-Directed RRSPs
Insures Registered Retirement Savings Plan- (RRSP) or Registered Retirement Income Fund (RRIF)-funded homeownership mortgages for the purchase or refinance of new or existing owner-borrower occupied properties.

Calculating GDS / TDS
To receive the best quality decisions in the shortest timeframe, here is some information on the treatment of the key inputs used to calculate a borrower’s debt service ratios.

Find the current benchmark rate at Bank of Canada — Look up series V80691335


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