Is CMHC Mortgage Loan Insurance available for secured lines of credit?
Yes. With a secured line of credit, you can draw funds up to your insured credit limit (up to 80% of the current or as improved value of your home) at any time without the need to re-apply, and you can also make interest-only payments for a period of time. Equally important, you have the flexibility to prepay without penalties. Please contact your lender to confirm availability and qualifying criteria.
