CMHC Mortgage Loans

      Flexible Financing Options

As Canada’s national housing agency, CMHC is uniquely positioned to offer you a range of financing options to ensure you have access to a wide choice of quality, affordable housing.

CMHC Flex 100

CMHC Flex 100 product makes it possible for Lenders to provide eligible borrowers with financing of up to 100% of the home’s value. The product is available only for those borrowers who have a proven track record of managing their debt and the financial capacity to repay the mortgage, but who have not yet saved a 5% down payment. This new product will be available effective November 17, 2006.

Interest Only Homeownership Product

CMHC's interest only homeowner mortgage insurance product is designed to allow lenders to provide borrowers who have a strong history of responsibly managing their credit, with flexibility in repaying their mortgage loan. Similar to CMHC's existing Line of Credit product that has been in the marketplace since 2003, qualified borrowers will be able to pay interest only for the first 10 years of their mortgage. Following the interest only period, principal and interest payments will begin and will be sufficient to ensure the balance is paid in full within 25 years of the date the mortgage was originally initiated.

Helping Newcomers to Canada Feel at Home

Newcomers to Canada with permanent resident status continue to have access, through their Approved Lender, to all CMHC Homeowner Mortgage Loan Insurance products without any additional borrower eligibility requirements irrespective of the length of time the borrower has been in Canada.

CMHC’s Refinance

Open the door to a full range of financing options with CMHC’s Refinance product. Your lender may now be able to help you refinance your home for up to 95% of the market value to a maximum of $150,000 of additional funds ($200,000 for loans up to 90% of a home's market value). These funds can be used for any purpose other than default management.

CMHC-insured Line of Credit

Enables your lender to provide you with access to up to 90% of the value of your home either at the time you purchase or when you want to refinance. You have the flexibility to draw funds as often as you wish (up to your maximum credit limit) — and equally important — to prepay without penalties over the life of your loan, as often as you like, and you have 25 years to repay the entire amount.

CMHC’s Flex Down

Own your own home sooner by using a wider range of sources for your down payment. If you have a proven track record of meeting your debt requirements and sufficient income to support mortgage loan payments, your lender may be able to provide you with CMHC’s Flex Down product. Sources for your down payment can include: borrowed funds, gifts and lender cash back incentives.

Purchase Plus Improvements

Found your dream home? Want to renovate it? With CMHC’s Purchase Plus Improvements, you can work with your lender to finance the cost of renovating by increasing your mortgage, up to 95% of the “as improved” value.

Energy Efficiency Pays!

Save 10% on your premium — if a CMHC-insured mortgage is used to buy an energy-efficient home, or to renovate a new or existing home with the intention to making it more energy efficient, you may also have the option of extending the amortization period for an additional 10 years.

Second Home

Understanding that changing lifestyles affect the decisions you make on how and where you live — CMHC offers mortgage loan insurance on the purchase or refinance of a second home. This home can be located anywhere in Canada, provided it is not an investment property, and must be suitable for, and available for year-round occupancy.

Self-employed Borrowers have easier access to mortgage loan insurance than ever before with no additional fees or premiums because CMHC has improved its employment verification requirements for self-employed borrowers.

Please check with your lender for the qualifying criteria and availability of these innovative products within their product offerings.

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