Canada Mortgage & Housing Corporation (CMHC) premiums are on the rise! But there is still a chance for you to purchase a Quick Possession Home from Laebon before these extra costs are passed on to you!! Here are what the changes will look like:
So thats a really pretty chart….But what does this really mean to YOU as a consumer? Here is a breakdown of the changes to a home purchase, based on a purchase price of $450,000.00 at 2.59%
5% down payment
current premium $15,390.00 - will increase to $17,100.00
change of equity position (cost to you)- $1710.00
monthly payment increase of $7.74
10% down payment
current premium $9720.00, will increase to $12,555.00
change of equity position (cost to you) - $2835.00
monthly payment increase of $12.83
15% down payment
current premium $6885.00, will increase to $10,710.00
change of equity position (cost to you) - $3825.00
monthly payment increase of $17.31
If you want to visit the CMHC website yourself, here is the link:
https://www.cmhc-schl.gc.ca/en/co/buho/buho_023.cfm
And when you are ready to talk more about how you can get qualified to purchase a Laebon Quick Possession home, please contact Brandi Pierik at www.wehaveamortgageforthat.com
