Buying a condo? Start here.

Condo 5

Condo 5The Canada Mortgage and Housing Corporation is Canada’s national housing agency. The primary reason the average person would come into contact with CMHC is because they offer mortgage insurance on many high-ratio mortgages for Canadians; if you are buying a house with less than 20% down, you are required to get default insurance, and usually it will be through CMHC.

Another thing CMHC offers is guides and information on many aspects of the home buying process. One of their guides is for people buying condominiums. It is an excellent overview of what condos are and what you need to be aware of. I would encourage anyone buying a condo to look at this guide as a great starting point.