With the latest increase in financing rates we might be hearing a lot more about assumable mortgages. An assumable mortgage is one that the lender allows another borrower to take over or assume the mortgage without changing any of the terms of the mortgage. The new applicant takes over the obligation for the payments left … Continue reading Assumable Mortgages
Tag: Default Insurance
As of March 17th, Candians will be spending more money on mortgage default insurance. The impact of the new mortgage regulations that came into effect in October of 2016 are what the Canada Mortgage and Housing Corp.(CMHC), is giving as reason for the need to increase premiums for the third time in the past few … Continue reading CMHC premiums increase March 17th.