Quote:
Originally Posted by topfiverecords
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%.
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Here's the way it breaks down from my understanding:
5% Downpayment (or Loan to Value Ratio Up to and including 95%)
CMHC premium increases from 2.75% to 3.15%
10% Downpayment (or Loan to Value Ratio Up to and including 90%)
CMHC premium increases from 2.00% to 2.40%
15% Downpayment (or Loan to Value Ratio Up to and including 85%)
CMHC premium increases from 1.75% to 1.80%