CMHC changes designed to protect home buyers will take effect July 1, 2020

Saturday Jun 27th, 2020


Earlier this month, the Canadian Mortgage and Housing Corporation (CMHC) announced changes to mortgage eligibility rules for insured mortgages. CMHC provides insurance to home buyers to protect lenders if a homeowner were to default on their mortgage. If a buyer purchases a home less than $1,000,000 and has less than 20% of the purchase price as a down payment, mortgage default insurance is mandatory. (Homes with a purchase price of $1,000,000 or more are not eligible for CMHC insurance.) These... [read more]

Mortgage pitfalls to avoid

Monday Mar 15th, 2021

mississauga mortgages

Throughout life, you may have moments where you’ll make a large purchase or invest in a costly item, like your family home. But whether you’re in the market for your first new property or already have a mortgage, leaving this asset unprotected can be costly.    Insuring your housing financial debt, as well as debt for other big-ticket items like a new boat for your lakefront cottage or keepsake jewelry like an engagement ring, is a smart investment in your... [read more]



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