FHA Home Loans

In Canada, the equivalent of FHA loans are insured mortgages, which are backed by the Canada Mortgage and Housing Corporation (CMHC), Genworth Financial Canada, or Canada Guaranty. These insured mortgages offer similar benefits to FHA loans in the United States, providing added flexibility for homebuyers, particularly those with less than a 20% down payment.

Insured mortgages in Canada help homebuyers by reducing the risk for lenders, allowing borrowers to access more favorable terms and interest rates. Like FHA loans, insured mortgages are not limited to first-time buyers and are available to anyone purchasing a home to use as their primary residence.