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RECOVERED BOLT TOOL · CURRENT FEDERAL RULES

Mortgage insurance.

Estimate minimum down payment and the standard mortgage default-insurance premium for an owner-occupied home.

CMHC RULES

Purchase price $700,000Down payment $70,000 · 10.0%

Minimum for this price: $45,000. Homes at or above $1.5M require at least 20% down and are not eligible for insured financing under the standard cap.

Base mortgage$630,000

Insurance premium$19,5303.10% tier

Total financed$649,530Provincial tax on the premium, where applicable, is not financed.

VERIFY AT THE SOURCECMHC mortgage loan insurance ↗Government insured-mortgage changes ↗