02-28-2014, 09:54 AM
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#71
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My face is a bum!
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Quote:
Originally Posted by Brewmaster
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
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Life changing stuff.
Good thing they pre-announced this announcement!
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