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What is the CMHC premium that I have to pay?

April 26, 2017CMHC pay Premium

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What is the CMHC premium that I have to pay?

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A. Canada Mortgage and Housing Corporation is a federal corporation that insures mortgages for Canadian lenders. By doing so, CMHC guarantees that the lender will not be at risk when they lend on high ratio mortgages, thus allowing Canadians to buy their homes with very little down payment. Buying a home with five or ten percent down would not be possible without this insurance. Finally, if you have any other questions, please contact First Citizens by clicking here now to send an email info@firstcitizensmortgage.com. We will respond within 24 hours!