Panda
New Member
Hi Guys,
I have a question regarding CMHC insurance. If someone has only 10% downpayment on a $400k house, is it worth to pay for CMHC insurance or is it a better idea to BORROW additional funds to make the 20% downpayment. Interest rate on the borrowed funds would be prime+1%.
Any and all advice will be appreciated. Thanks.
I have a question regarding CMHC insurance. If someone has only 10% downpayment on a $400k house, is it worth to pay for CMHC insurance or is it a better idea to BORROW additional funds to make the 20% downpayment. Interest rate on the borrowed funds would be prime+1%.
Any and all advice will be appreciated. Thanks.