Go threw CMHC or not?
- Thread starter Bindy25
- Start date
- Joined
- Jun 5, 2009
- Messages
- 966
For Multi-families, it's recommended as you get a better rates (6+ units). For non-multi family, I no longer do as I have to put at least 20-25% down for a better positive cash flow.
- Joined
- Oct 7, 2009
- Messages
- 83
CMHC rules for investing in single family homes is you must put 20% down. If you avoid CMHC you might find a lender who will allow a larger LTV.
- Joined
- Aug 30, 2007
- Messages
- 13,879
It depends on your specific property, your cash at hand and your goals.
CMHC is insurance for the bank, paid for by you, the borrower.
It may make sense to pay this fee to lower your mortgage interest rate or to get the deal with the available cash .. or it may not.
Your question is too broad. More details are required !
btw: it is "through" not threw !
Do you want to buy my used Lexus ? It is only $12,000 ! Is this a good deal ?
CMHC is insurance for the bank, paid for by you, the borrower.
It may make sense to pay this fee to lower your mortgage interest rate or to get the deal with the available cash .. or it may not.
Your question is too broad. More details are required !
btw: it is "through" not threw !
Do you want to buy my used Lexus ? It is only $12,000 ! Is this a good deal ?