05/30/2026
What is CMHC Mortgage Insurance? 🏡
Example:
If you buy a $500,000 home with 5% down payment ($25,000), the bank may require CMHC mortgage insurance because your down payment is under 20%.
This insurance helps protect the lender and allows buyers to purchase a home with a smaller down payment. The insurance cost is added to your mortgage and paid over time.
A simple way to make homeownership more accessible for many Canadians 🇨🇦