Effective June 1st, 2015, the mortgage loan insurance premium for homebuyers with less than a 10% down payment will increase by approximately 15%.

Homebuying Step by Step

CMHC's Homebuying Step by Step guide is here to make things easier for you by providing the information you need to make a wise homebuying decision. This section provides examples and worksheets that will guide you through the entire homebuying process, from the moment you make the decision to buy your own home to the moment the movers carry the first box through the front door. It couldn't be easier!


In this Section:

  • Step 1: Is Homeownership Right for You?
    Buying a home is one of the biggest emotional and financial decisions you'll ever make. Prepare by learning about the process of home buying and the responsibilities of homeownership.
  • Step 2: Are You Financially Ready?
    This step guides you through some simple calculations to figure out your current financial situation, and the maximum home price that you should consider.
  • Step 3: Which Home is Right for You?
    Once you have a good idea about your finances, you’ll need to think clearly about the home you’d like to buy. You need to think about your current and future housing needs and what characteristics are important to you in a home.
  • Step 4: The Buying Process
    Before you start searching for a home you need to think about your current and future housing needs and what characteristics are important to you in a home.
  • Step 5: Now That You're a Homeowner
    Practical advice for homeowners on their financial responsibilities as well as the importance of home maintenance and renovations.
  • Words to Know When Buying a Home
    This glossary provides simple yet accurate definitions of certain terms you may encounter in the Homebuying Step by Step guide.
  • Worksheets
    These user-friendly checklists and worksheets will help you all throughout the home buying process.

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