CMHC Insured Mortgage Products

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.

CMHC Flex Down provides borrowers with the opportunity to purchase their own home sooner by using a wider range of sources for a down payment. The CMHC Flex Down product is intended to appeal to homebuyers who may lack, or have made the financial decision not to provide, a traditional 5% down payment from their existing resources but who have a good credit history and sufficient income to support the financial obligations of homeownership.

For borrowers who have a traditional source of down payment, Approved Lenders can offer CMHC insured financing up to 95% of a home’s value on purchase transactions and make more dreams of homeownership come true.

This feature provides borrowers with cash flow flexibility during the early years of a mortgage. Borrowers are able to pay interest only for the first 5 or 10 years of their mortgage. Following the interest only period, principal and interest payments begin and will be sufficient to ensure the balance is paid in full within 25 years of the date the mortgage was originally initiated. CMHC Interest Only Mortgages and CMHC Line of Credit are available to borrowers with a strong history of responsibility managing their credit. CMHC will qualify borrowers based on the full principal and interest payment required to repay the loan in full over 25 years.

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.

In recognition of the demand for changing housing needs within a global economy, Non-Permanent Residents, legally entitled to work in Canada, can purchase a home with as little as 10% down payment with CMHC Mortgage Loan Insurance

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.

Found your dream home? Want to renovate it? With CMHC’s Purchase with 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.

CMHC’s Progress Advance is designed to meet the housing finance needs of borrowers who are building new homes or who want to undertake large scale home improvements by providing insured financing during the home construction/improvement process.

You may be eligible for a 10% CMHC Mortgage Loan Insurance premium refund and / or amortization periods of up to 40 years without a premium surcharge, 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.

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.

CMHC Portability allows repeat users of CMHC Homeowner Mortgage Loan Insurance to save money by reducing or eliminating the premium on a new insured loan for the purchase of a subsequent home.

CMHC Self-Employed Simplified makes it easier for more self-employed borrowers who have difficulty providing third party validation of their income to realize their dreams of homeownership. Self-employed borrowers and commissioned sales persons who have a proven track record of managing their debt, and who have worked (either as employee or self-employed) a minimum of two years in the same type of work will be eligible to obtain a CMHC-insured mortgage.

CMHC’s mortgage loan insurance for 1 – 4 unit rental (non-owner occupied) properties provides investors with more housing finance choice when purchasing or refinancing a small rental property. Investors can purchase a 1 – 4 unit rental property with little or no down payment. Investors interested in refinancing can obtain insured financing of up to 90% or 95% of the properties value depending on the number of units in the property.