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| | #6 CMHC Mortgage Insurance | | | You may be able to purchase a home with no down payment, thanks to CMHC's insurance program. Get into your home sooner. Mortgage loan insurance helps you do it. When you need a mortgage loan that is more than 80% of the purchase price of your home, mortgage loan insurance is required. It protects the lender and, by law, most Canadian lending institutions require it. CMHC has pioneered mortgage insurance products and services that have helped finance more than one-third of Canadian homes. With mortgage loan insurance, many Canadians who might not be able to save a 20% down payment can still buy a home. Having mortgage loan insurance means that if the borrower fails to make their payments on the mortgage, the lender is paid back by the insurer. Without the risk of losing their money, lenders have the confidence to make high ratio mortgage loans. Depending on the location within Canada. |
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| RE/MAX REALTY SERVICES INC., BROKERAGE | This web site has been designed and implemented by Jim Broadley Copyright © Jim Broadley [2011]. All rights reserved. | | Each Office Independently Owner and Operated | | Tel 905-456-1000 e-mail jbroadley@trebnet.com |
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