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You bought a house a few years ago and secured your loan with CMHC, the Canadian Mortgage and Housing Corporation. You move and have to reinsure your mortgage with the company.

Can you transfer CMHC’s mortgage loan insurance to a new property?

Yes really. It all depends on the value and terms of your new loan.

If you don’t increase your down payment percentage, amortization period, or loan amount, you don’t have to spend more money. Your premium will be transferred.

Otherwise, you can pay an additional premium on the new amounts borrowed. However, the rates applicable to these amounts are higher. Do your math: Getting a new loan may cost you less.

In some cases, you may qualify for a premium discount if a maximum of two years elapses between the first and second home.

For more information on transfer terms, Visit the CMHC website.

If you have any questions, you can call the CMHC Call Center at 1-800-668-2642 or send an email. You can also consult the owner Frequently Asked Questions.

journalist : Francois Sanche
Research journalist : Kim Chabot

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