Tag Archives: mortgage-loan insurance
Essential reading if you’re planning on buying a home
Canwest News Service
For 60 years, mortgage-loan insurance from Canada Mortgage and Housing Corporation has been helping Canadians, especially younger Canadians, with home-affordability challenges.
If you’re considering a real estate purchase, do some research first.
There’s not too much the national housing agency doesn’t know, or hasn’t investigated, about the rights and wrongs of home ownership, in other words.
And, thanks to the Internet, what it knows is readily available when you’re ready to know it.
One of its publications, Home Buying Step By Step, actually reduces the life-changing first-purchase to a “couldn’t be easier” process of 10 steps. (It’s not, of course.) The first step is the biggest: deciding if home ownership is right for you. (It isn’t for everyone.)
Another CMHC publication is the Condominium Buyers’ Guide, useful in a changing market.
If buying a new-build apartment or townhouse, before or after construction-completion, a provincial government website is an indispensable supplement to the national guide.
The B.C. Financial Institutions Commission administers 10 statutes, four of them governing real estate and strata-property transactions and relationships, before and after a sale. (“Condominium living . . . can be a relatively carefree housing option,” CMHC says. Depends on who all is involved, the provincial website suggests.)
CMHC also maintains an “Affordable Housing Centre” on its website. (That’s where you will found Pro-Home: a progressive, planned approach to affordable home ownership and its immigrant-experience observations.) Intended for “professionals,” read the right way it has much that is personally useful, inspiring even.
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