Canadian Mortgage and Housing Corporation - CMHC

AAA

DEFINITION of 'Canadian Mortgage and Housing Corporation - CMHC'

A division of the Government of Canada that acts as Canada's national housing agency. The CMHC's mandate is to help Canadians access a variety of affordable housing options. It also researches housing and real estate trends in Canada and around the world, providing research to consumers, businesses and other government divisions. The major activity of the CMHC, and the one for which it is best known, is mortgage loan insurance, which insures approved lenders (such as Canada's chartered banks) against borrower default. Mortgage loan insurance provides approved borrowers access to low-cost mortgage rates. CMHC approved buyers may purchase property with as little as 5% down payment.

INVESTOPEDIA EXPLAINS 'Canadian Mortgage and Housing Corporation - CMHC'

One in three Canadians receives some form of help from the CMHC in financing or purchasing a home. The agency also provides valuable financing help to consumers, housing professionals, mortgage financiers, real estate investors and parties interested in learning about the Canadian housing market.

RELATED TERMS
  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Conventional Mortgage

    A type of mortgage in which the underlying terms and conditions ...
  3. Mortgage-Backed Security (MBS)

    A type of asset-backed security that is secured by a mortgage ...
  4. Real Estate

    Land plus anything permanently fixed to it, including buildings, ...
  5. Front-End Ratio

    A ratio that indicates what portion of an individual's income ...
  6. Keystone XL Pipeline

    A proposed extension of the Keystone pipeline system that is ...
Related Articles
  1. To Rent Or Buy? There's More To It Than ...
    Personal Finance

    To Rent Or Buy? There's More To It Than ...

  2. To Rent Or Buy? The Financial Issues
    Home & Auto

    To Rent Or Buy? The Financial Issues

  3. Canada: A New Frontier For Real Estate ...
    Taxes

    Canada: A New Frontier For Real Estate ...

  4. Creating A Tax-Deductible Canadian Mortgage
    Personal Finance

    Creating A Tax-Deductible Canadian Mortgage

comments powered by Disqus
Hot Definitions
  1. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  4. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  5. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center