CMHC Expands Mortgage Loan Insurance Options for Prefabricated and Modular Homes
📅 2 days ago
The Canada Mortgage and Housing Corporation (CMHC) is expanding its mortgage loan insurance offering to include more options for prefabricated and modular homes. This move aims to double housing starts over the next decade by exploring new ways of building. Homebuyers can now purchase factory-built homes with a minimum down payment of five per cent and access CMHC-insured financing for their mortgage.
This news is significant in the residential construction sector as it addresses the challenges of affordability and housing shortages faced by Canadians. The expansion of mortgage loan insurance options for prefabricated and modular homes can lead to faster and more efficient construction methods, ultimately impacting the market by increasing housing supply.
🏷️
residential construction
housing starts
housing supply
modular homes
Affordability
prefabricated homes
construction methods
CMHC
mortgage loan insurance
housing shortages
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