Canadian Mortgage and Housing Corporation (CMHC)

What does the ‘Canadian Mortgage and Housing Corporation – CMHC’ do?

The Canadian Mortgage and Housing Corporation (CMHC) is a division of the Canadian Government that acts as Canada’s national housing agency. The CMHC was created to help Canadians gain easy access to a variety of different affordable housing options at different affordable rates. It goes a long way in researching housing and real estate trends in Canada and around the world and then providing the research to consumers, businesses and other government divisions.

The major activity of the Canadian Mortgage and Housing Corporation (CMHC), for which it is best known, is the mortgage of loan insurance. This insures approved lenders (such as Canada’s chartered banks) against borrower default. Mortgage loan insurance provides approved borrowers access to low-cost mortgage rates. CMHC approved buyers may purchase property with as little as 5% down payment.

Canadians get a lot of help from the CMHC in buying or financing a home in Canada. This national housing agency also provides great and valuable financial assistance to consumers, real estate investors, mortgage brokers, housing professionals and people interested in learning about the Canadian housing market.

Canadian Mortgage and Housing Corporation (CMHC) is an organization sponsored by the Canadian government that provides mortgage loans to home buyers. At first, it started as a crown corporation, the Canada Mortgage and Housing Corporation offered housing to soldiers returning from WWII. Over time the CMHC has evolved by including the planning and development of housing projects in urban areas, as well as research into real estate trends and developments.

Although, it is quite smaller than its United States counterpart, the Canadian Mortgage and Housing Corporation (CMHC) is a valuable asset to both residential homeowners and sellers in Canadian cities. Canadian cities can borrow from the organization for the development of housing projects at low interest rates.


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