CHMC – Canada Mortgage and Housing Corporation   Was created by Parliament in 1946 to provide low-cost housing and affordable mortgages to World War II veterans returning home after the war.   It is owned by the Canadian government; however it operates like a private sector corporation. It is accountable to Parliament through the Minister of Families, Children and Social Development.   The CMHC is a division of the Government of Canada that acts as... [read more]

A mortgage pre-approval certificate states the maximum amount of money a lender is willing to loan you, based on your current income and credit history. It will specify a term, interest rate and mortgage amount. The pre-approval will be valid for a period of time and may have conditions that must be met. Why get pre-approved? It will save you time in the long-run; you will only look at the homes you can afford. You will have a reference point to decide on an offer for a house. You... [read more]