Quote:
Originally Posted by Winsor_Pilates
It's only 20% down needed to avoid CMHC now. How much did he say he was putting down?
Was he a first time buyer? If not, he should have been at 20% or more anyway.
Something is not adding up. Did he have a subject to financing in the offer, and then tell you all of this as a reason for not removing subjects?
I see, you meant the amortization period.
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He was a 1st time home buyer, (still in school) and pretty much was putting 5% down...at least that's what his deposit was, with financing covering the rest.
And yes...amortization...needless to say I don't always have my jargon right when it comes to this stuff...