Do you I still need CMHC insurance? In all cases traditional financing is only 55% Yet, the LTV is
80% are they (Banks) force to request you to get insurance?
http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_002.cfm
Case A:
Finance a purchase with 1[sup]st Mortgage from traditional financing (Bank - 55%) plus 2[sup]nd from private lender (arms-length RRSP Mortgage ` 25%) for 80% LTV on closing. 20% cash down payment.
Case B:
Finance a purchase with 1[sup]st Mortgage from traditional financing (Bank - 55%) plus 2nd[/sup] from private lender (Loan ` 25%) for 80% LTV on closing. 20% cash down payment.
Case C:
Finance a purchase with 1st[/sup] Mortgage from traditional financing (Bank -55%) plus 2nd[/sup] from own Equity LOC (25%) for 80% LTV on closing. 20% cash down payment.
Regards
80% are they (Banks) force to request you to get insurance?
http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_002.cfm
Case A:
Finance a purchase with 1[sup]st Mortgage from traditional financing (Bank - 55%) plus 2[sup]nd from private lender (arms-length RRSP Mortgage ` 25%) for 80% LTV on closing. 20% cash down payment.
Case B:
Finance a purchase with 1[sup]st Mortgage from traditional financing (Bank - 55%) plus 2nd[/sup] from private lender (Loan ` 25%) for 80% LTV on closing. 20% cash down payment.
Case C:
Finance a purchase with 1st[/sup] Mortgage from traditional financing (Bank -55%) plus 2nd[/sup] from own Equity LOC (25%) for 80% LTV on closing. 20% cash down payment.
Regards