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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Your percentage increase seems to go up for the 10%. You have a 14.5% increase on the 5% downpayment, then 20% on the 10%, then a 2.8% increase on the 15%.