Experts Questions and Answers

Jul 21
2010

CMHC; they insure the down payment if I don’t have the 20% down, is that correct? If so, what is the problem with that?

posted by Elaine Brazeau to Donna Leclair  :  Views (184)
Hi Elaine and Deb CMHC insures the entire mortgage if you have less than 20% down, It is a portable insurance and is added to your mortgage on closing. Minimum required down is 5% on owner occupied properties. In some situations CMHC insurance could be required on mortgages with higher down... [ more ]