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Carrie-Lynn Macleod
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CMHC To Increase Mortgage Premiums as of May 1st, 2014
Saturday, 01 March 2014, 06:43:27 AM

Effective May 1st   2014, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges.

 

If possible get your purchases in before May 1st, 2014 for a cost savings!

Loan-to-Value Ratio

Standard Premium (Current)

Standard Premium (Effective May 1st, 2014)

Up to and including 65%

0.50%

0.60%

Up to and including 75%

0.65%

0.75%

Up to and including 80%

1.00%

1.25%

Up to and including 85%

1.75%

1.80%

Up to and including 90%

2.00%

2.40%

Up to and including 95%

2.75%

3.15%

90.01% to 95% – Non-Traditional Down Payment

2.90%

3.35%

As always, I am here for any real estate help. Servicing Windsor Essex and Surrounding Areas - Riverside, Tecumseh, Lakeshore, East Riverside, Emeryville, Belle River, Central Windsor, Walkerville, South Windsor, South Cameron, Heritage Estates, Lasalle, Waterfront Properties, Working with Seniors and their Families.

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