Tag: mortgage insurance
In October and November this year the Government of Canada made changes to mortgage insurance requirements. Mortgage insurance is provided by three companies in Canada. The biggest provider of mortgage insurance is CMHC a crown corporation. This insurance is paid for by the borrower and protects the lender in case of default. It reduces the …
With the Canada Mortgage and Housing Corporation’s multi-unit insurance coverage, a commercial investor can attain up to 85 per cent financing toward their commercial purchase.
Private commercial lenders, particularly in the commercial mortgage market, are increasingly becoming the go-to for hard-to-fund commercial projects.
The purchaser will be paying interest on every dollar of the home’s value, as opposed to nicking off a good chunk, interest free, with a down payment.
Foreign lenders, outside of large banks and insurance companies, are upping the commercial financing available for non-prime commercial borrowers.
The online mortgage calculator does all the math for you, and is a great asset in determining your true budget for home buying.