What is CMHC Mortgage Loan Insurance?
CMHC mortgage loan insurance lets you get a mortgage for up to 95% of the purchase price of a home. It also ensures you get a reasonable interest rate, even with your smaller down payment. Mortgage loan insurance helps stabilize the housing market, too. During economic slumps when down payments may be harder to save, it ensures the availability of mortgage funding.
Original Article Source Credits: Canada Mortgage & Housing Corporation, https://www.cmhc-schl.gc.ca/
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