Canada Mortgage and Housing Corporation - CMHC


DEFINITION of 'Canada Mortgage and Housing Corporation - CMHC'

An organization sponsored by the Canadian government that provides mortgage loans to home buyers. Started as a crown corporation, the Canada Mortgage and Housing Corporation offered housing to soldiers returning from WWII. Over time the CMHC evolved to also include the planning and development of housing projects in urban areas, as well as research into real estate trends.

BREAKING DOWN 'Canada Mortgage and Housing Corporation - CMHC'

While smaller than its United States counterpart, the CMHC is a valuable asset to both residential homeowners and cities. Canadian cities are able to borrow from the organization at low interest rates for the development of housing projects.

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  3. Fannie Mae - Federal National Mortgage ...

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  4. Crown Corporation

    Any corporation that is established and regulated by a country's ...
  5. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
  6. Encumbrance

    A claim against a property by a party that is not the owner. ...
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  1. Do FHA loans have prepayment penalties?

    Unlike subprime mortgages issued by some conventional commercial lenders, Federal Housing Administration (FHA) loans do not ... Read Full Answer >>
  2. Can FHA loans be refinanced?

    Federal Housing Administration (FHA) loans can be refinanced in several ways. According to the U.S. Department of Housing ... Read Full Answer >>
  3. Can FHA loans be used for investment property?

    Federal Housing Administration (FHA) loans were created to promote homeownership. These loans have lower down payment requirements ... Read Full Answer >>
  4. Do FHA loans have private mortgage insurance (PMI)?

    he When you make a down payment from 3 to 20% of the value of your home and take out a Federal Housing Administration (FHA) ... Read Full Answer >>
  5. Is Canada a developed country?

    Canada is a developed country. Countries that are considered to have developed economies exhibit strength in typical economic ... Read Full Answer >>
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