Should I Buy a Home before May 1, 2014?
Blog by Diane Cardoso | March 7th, 2014
Should I buy a home now? If you will be purchasing with under 20% downpayment, you may want to consider purchasing prior to May 1, 2014. Canada Mortgage and Housing Corp (CMHC) will be changing the insurance premium rates on mortgages under 20% down on May 1. The 5% downpayment insurance premium will be 3.15% on the face value of the mortgage. Buy now and SAVE, SAVE, SAVE on this extra cost.