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Brock Beauchamp
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CMHC mortgage insurance

Brock Beauchamp
Posted

Hi, in Canada, if you don't put 20% down payment on the purchase of primary residence, there is a mandatory insurance (CMHC).

My question is, should I put 20% down to avoid the insurance cost, or just put 5% down and add the 4% fee to the mortgage?

Thank you in advance

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