Posted On May 29, 2023

A high ratio/insured (i.e. CMHC) purchase consits of:

Minimum 5% down payment

Less than 20% down payment

Maximum purchase price of $999,999

Maximum 25 year amortization

Purchase price over $500k requires 5% of the first $500k and 10% balance above $500k (i.e. $600k purchase requires $35k down payment)

 
Danny Bell, AMP
Mortgage Broker | Lic.#M13001996
C: 289-200-9061 | T: 905-426-4200
The Mortgage Centre | Durhammortgage.com Ltd.

«