Mortgages & Financing

The Canada Mortgage and Housing Corporation (CMHC) is a Crown corporation of the Government of Canada. Its primary mission is to facilitate access to housing for Canadians and to contribute to the stability of the housing market and financial system. Established in 1946 originally to house veterans returning from World War II, CMHC has expanded its...

In British Columbia, as in most jurisdictions, there are various types of mortgages available to homebuyers. These mortgages differ in terms of interest rates, payment schedules, and other features. Here are some common types of mortgages available in BC:

1. Fixed-Rate Mortgage:
   • With a fixed-rate mortgage, the interest rate remains constant throughout t...

The terms "pre-approved" and "pre-qualified" are often used interchangeably in the context of mortgage financing, but they actually represent different stages in the mortgage application process: