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What should I know about the federal government agency (CMHC) that gets involved in some mortgages?

April 26, 2017agency CMHC Federal government involved mortgages

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What should I know about the federal government agency (CMHC) that gets involved in some mortgages?

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The Canadian Mortgage and Housing Corporation (CMHC) gets involved when a prospective homebuyer has a lower-than-average down payment. The CMHC assesses each individual’s situation and provides mortgage insurance to the lender, which adds a small premium to the mortgage.