Quote:
Originally Posted by SeeGeeWhy
Sorry, I am reading this as seeing the minimum down payment is now effectively 5% on houses under 500k. Does this mean you do not require CMHC insurance if you have 5% down or does the 20% down rule still apply for that?
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Mortgage insurance is still required for < 20% down purchases.
Here's a link for some FAQ:
http://www.fin.gc.ca/afc/faq/hdpmeh-mfperpc-eng.asp