Lifestyles are changing and these changes affect decisions that Canadians make regarding how and where they live. With this in mind CMHC will now provide homeowner insurance for borrowers with more than one residential property. You can now buy a second home with 5% down. The new home must be intended for occupancy at some point during the year by the borrower or a relative of the family rent free. This second home can be anywhere in Canada. The applicant must qualify based on income.
Second Home Mortgage Example:
The number of mortgage financing products available to Canadians has expanded rapidly over the past few years. Call to find out which financing option is best suited to your circumstances.
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