When buying your new home, it is wise to have as much down payment as possible. In cases where a buyer has less than 20% down payment a government of Canada Agency needs to insure your mortgage in case you cannot pay it off to the bank... This Agency is called CMHC (Canada Mortgage & Housing Corporation). CMHC is one of the benefits that Canadian Bankers have over other countries banking systems. Currently Mortgage Brokers are able to obtain mortgages for less than 5% down payment.

If you have any other questions, I've got a mortgage professional on my team that takes care of all my clients. I look forward to getting members of Sikh Business Network closer to what they want!

Call me Manjit Virk at (416)858-5776, or alternatively I can also be reached at manjit.virk@ssgmac.ca

Manjit can also be contacted for a free no obligation consultation at the above mentioned number!