Buying a home with 5% Down? A lot of first time...
Published Thursday, April 20, 2006 by Real Estate Pro | E-mail this postCosts such as the CMHC/GE Mortgage Insurance Premium, Land Transfer Tax (if applicable), Provincial Sales Tax (P.S.T.) and closing costs. Having CMHC Mortgage Loan Insurance means that if you, the borrower, default on your mortgage, the lender is paid back by CMHC. The Mortgage Insurance Premium can either be paid on closing or added to the your mortgage amount resulting in a Total Loan Amount which will be the amount registered on closing.
Tagged: Mortgage Loan
Buying a home with 5% Down?
A lot of first time...