CMHC 2021 (EVERYTHING You Need to Know)

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Over the past 13 years, I have collected the experience and knowledge which I can now share with everyone to help them buy and sell real estate with less stress, confidence, and clarity. I am Susan Ha, Susan Ha, Real Estate Sales Representative and my Goal is Helping You Understand and Move Real Estate
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[peternguyen]

In America they have the FHA loan that's basically the same as Canada's CMHC but the buyer must be a tenant for at least a year. Does that rule also apply to Canadians for CMHC? Am I forced to live in my new property for some time before renting it out?

[MonsieurSchue]

Is that $16950 CHMC insurance amount the same despite the term of the loan? (either 1/2/3/5) How does it work if someone get only an 1 year term and goes to another bank after that year?