CMHC Insurance

“Mortgage default insurance, also referred to as CMHC insurance, is mandatory in Canada for down payments of less than 20% of the purchase price. Mortgage default insurance protects lenders in the event a borrower stops making payments and defaults on their mortgage loan. CMHC insurance premiums are paid for in full by the borrower at the start of their mortgage.”

CMHC insurance calculator

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Danielle Beitz, Broker

Re/Max Parry Sound - Muskoka Realty Ltd., Brokerage

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