Edmonton Mortgage Blog

COVID-19 & Mortgage Payments

March 18, 2020 | Posted by: Natalie Wellings

If your mortgage is insured (this means you put less than 20% down) please be assured that the insurers (CMHC, Genworth & Canada Guaranty) are working with mortgage lenders to provide payment relief to those affected by this crisis.

CMHC is also working on other options for uninsured mortgages (conventional mortgages). More to come on this once official news comes in.

The big 6 banks have announced payment deferral on a case-by-case basis. I expect the monoline (non-bank) mortgage lenders to also come on board with this shortly. Again, this is currently only being offered on a case-by case basis. So, if something happens to your finances as a result of this crisis you will need to reach out to your lender, explain the situation and they will let you know what they can offer you.

You may have to wait for some time on the phone to reach an agent; they are working as hard as they can to get to every call in a timely manner but, as you can imagine, hold times can be long.

Things are moving rapidly so this information might change at any moment. I will keep my facebook page updated: https://www.facebook.com/youredmontonmortgage/

I am here to help you if you have questions regarding your mortgage during this stressful time. Please reach out to me if you need assistance.

Stay healthy & I will be in touch with more information as soon as I have it!

ATB Financial 1-800-332-8383

B2B 1-800 263 8349

BMO Financial Group 1-877-895-3278

Bridgewater Bank 1-866-243-4301

CIBC 1-800-465-2422

CMLS Financial 1-888-995-2657

Optimum Mortgage 1-866-441-3775

Equitable Bank 1-866-407-0004

First Calgary Financial 403-736-4000

First National Financial LP 1-888-488-0794

Haventree Bank 1-855-272-0051

HomeEquity Bank 1-866-331-2447

Home Trust Company 1-855-270-3630

HSBC 1-888-310-4722

ICICI Bank 1-866-726-0825

Manulife 1-866-677-4366

MCAP 1-800-265-2624

MERIX Financial 1-877-637-4914

National Bank 1-888-835-6281

RBC 1-866-809-5800

RFA (formerly known as Street Capital) 1-877-416-7873

RMG 1-866-809-5800

Scotiabank 1-800-472-6842

Servus Credit Union 1-877-378-8728

TD 1-866-720-0075

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