CMHC is an acronym for the Canada Mortgage and Housing Corporation-a government run mortgage company that insures your bank against a possible default on your mortgage. The irony of this of course is that the insurance is for the bank, but yet you pay for it. I think it’s important for consumers to know that there is private competition to CMHC. There’s a company called Canada Guarantee and a Company Called Genworth Financial.

As a consumer, I think it’s also important to understand “well how do I decide who I should choose for my mortgage insurance- and more importantly- do I even know that I have a choice. So if you’re paying the same amount of money for insurance from either of the three companies-which you are- how do you make a decision which one you should go with? I want to share with you a couple of really good programs, in my opinion, that Genworth Financial offers.

The first, is their home buyer privileges program- where you get a password to an area of their website that gives you access to significant discounts and savings from moving and home related programs and products from companies.

And my personal favourite: the home owner assistance program from Genworth Financial, is an excellent program. Listen, I know that when we get into a mortgage we never ever anticipate the fact that we might have a temporary financial setback. The homeowner assistance program protects you against a possibility of a temporary life setback. For example, if you or someone in your family had a serious illness or if you had job loss, or if you had any type of marital difficulty as a Genworth insurance customer, they will work with you to get through that rough patch so that you can stay in your home.

Thank you for watching

Other Related Information

What Is The Minimum Down Payment For Mortgage?
Mortgage Minutes
Mortgage Broker Burnaby Bc