IMPORTANT UPDATE – CMHC Raises Premiums May 1st
Effective May 1st, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges.
|
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% |
Kupina Mortgage Team
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