Quote:
Originally Posted by bubbsy
can anyone quantify the impacts of this increase??
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As a first time home buyer, if I am taking out a mortgage for a home with a purchase price of $400,000 here are the changes:
5% Downpayment ($20,000)
CMHC premium increases from $10,450 to $11,970
10% Downpayment ($40,000)
CMHC premium increases from $7,200 to $8,640
15% Downpayment ($60,000)
CMHC premium increases from $5,950 to $6,120