Mortgage loophole helps first-timers

There is a small loophole in the new federal mortgage rules that could make it easier for the banks to lend money to first-time buyers. The federal government announced last month new requirements for anyone borrowing money for a house and needing mortgage insurance. If you have less than a 20% down payment and are…


Bad Credit Home Refinancing Loan – How To Approach One Easily And Effectively

By: Julian Lim People who require a bad credit home refinancing loan has been rising recently these days. The main reason could be because of the impact of current bad international financial crisis. Such poor credit loans are fast becoming popular among consumers who have difficult times in meeting their financial needs. For people who…


2009 Mortgage Consumer Survey Results

CMHC has released the results of the 2009 Mortgage Consumer Survey. The key findings from the 2009 survey indicate that mortgage clients are generally optimistic and that they are astute mortgage consumers that manage their mortgages prudently. The survey also indicated that client satisfaction levels are still relatively strong and first-time home buyers have increased…


Mortgage Loan Insurance

The Mortgage Loan Insurance program provided by the Canada Mortgage and Housing Corporation (CMHC) is insurance on loans granted by approved lenders for the purchase, construction, renovation, or refinancing of single-family homes or multiple rental housing. The program also grants a 10% refund on its mortgage loan insurance premium when a borrower buys or builds an…