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CMHC - Mortgage Insurance For Self Employed

There is a good news for self employed people looking to get a mortgage in Canada. Canada Mortgage And Housing Corporation (CMHC)is improving its mortgage loan approval system that can help self employed people qualify for a mortgage. New program will be available next month.

"Self-Employed Simplified" will make it easier for certain self-employed borrowers to obtain a mortgage loan insurance and as a result enable them to take advantage of of lower interest rates. Commissioned sales people will also benefit from this program. Program is designed for borrowers who have minimum 2 years of experience in the same type of work and good credit record. This product will be available for 1 or 2 unit owner occupied properties and will also be available for refinance for upto 90% of the homes value.

Talk to your mortgage broker for more info.

Visit myabbotsford.com for Abbotsford real estate information.

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