CMHC has increased its mortgage loan insurance premiums for homeowner and will be from effective May 1, 2014. It does not apply to mortgage currently insured by CMHC.
According to CMHC, higher premium will result in an increase of approximately $5 to their mortgage payment.
Effective May 1st 2014 rates will be as follows
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%

 

Posted by Gurpreet Ghatehora on

Tags

Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.

Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton. Copyright 2022 by the REALTORS® Association of Edmonton. All rights reserved.

Listing information last updated on May 26th, 2022 at 12:48pm CDT.