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CMHC (Canada Mortgage and Housing Corporation) is Canada’s federal housing agency and one of three insurers approved to provide mortgage default insurance on high-ratio mortgages, alongside Sagen and Canada Guaranty.
As a federal Crown corporation, CMHC insures high-ratio mortgages under the same federal framework that governs mortgage default insurance generally — the insured price cap, amortization limits, and GDS/TDS ratios apply to CMHC-insured files exactly as they do to files insured by Sagen or Canada Guaranty.
CMHC also plays a second, non-insurer role: it publishes national housing and mortgage research, including the Residential Mortgage Industry Report that tracks metrics like renewal volumes across the Canadian mortgage market. Brokers and agents often cite this research separately from anything to do with a specific insured file.
Federal Crown corporation: CMHC administers mortgage loan insurance alongside the two private insurers, Sagen and Canada Guaranty.
Sets the shared insured-mortgage limits: GDS 39% / TDS 44%, a $1.5 million insured purchase price cap (effective December 15, 2024), and amortization up to 30 years for first-time buyers and new builds.
Publishes market research: CMHC’s Residential Mortgage Industry Report tracks metrics such as the roughly 60% of outstanding Canadian mortgages renewing by the end of 2026.
Used nationwide: mortgage agents (Ontario, FSRA), submortgage brokers (BC, BCFSA), mortgage associates (Alberta, RECA), and courtiers hypothécaires (Quebec, AMF) all submit CMHC-insured files under the same rules.
Definitions reflect Canadian federal and provincial rules as of the “Updated” date above. Not advice for any specific file.
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