Canada Mortgage and Housing Corporation (CMHC)

Canada Mortgage and Housing Corporation (CMHC),

Definition of Canada Mortgage and Housing Corporation (CMHC):

  1. An agency of the Canadian government established in 1954. The organization manages the housing industry. Mandated to help Canadians with affordable housing and mortgages, the CMHC may only require a 5 percent down payment. One in three Canadians uses CMHC programs.

  2. The Canada Mortgage and Housing Corporation (CMHC) is a Canadian Crown Corporation which serves as the national housing agency of Canada and provides mortgage loans to prospective buyers, particularly those in need.

  3. The Canada Mortgage and Housing Corporation (CMHC) serves as the national housing agency of Canada. CMHC is a state-owned enterprise, or a Crown corporation, which provides a range of services for home buyers, the government, and the housing industry. CMHC’s stated mission is to “promote housing affordability and choice, to facilitate access to, and competition and efficiency in the provision of, housing finance, to protect the availability of adequate funding for housing at low cost, and generally contribute to the well-being of the housing sector in the national economy.”.

Meaning of Canada Mortgage and Housing Corporation (CMHC) & Canada Mortgage and Housing Corporation (CMHC) Definition