We must not forget about the premium increases in the self employed, stated income, program as well as for rental properties. Rentals can’t be purchase with less than 20% down and generally the premiums are not included.
| Loan-to-Value Ratio | Total Loan Amount | Increase to Loan Amount |
|---|---|---|
| Up to and including 65% | 0.90% | 1.75% |
| Up to and including 75% | 1.15% | 3.00% |
| Up to and including 80% | 1.90% | 4.45% |
| Up to and including 85% | 3.35%* | 6.35% * |
| Up to and including 90% | 5.45%* | 8.05% * |
Note: Premiums shown with “*” do not apply for Refinance transactions.
Existing premiums will remain in effect until May 1st, 2014.
CMHC Income Property
Effective May 1st, CMHC Income Property mortgage insurance premiums will be:
| Loan-to-Value Ratio | Total Loan Amount | Increase to Loan Amount |
|---|---|---|
| Up to and including 65% | 1.45% | 3.15% |
| Up to and including 75% | 2.00% | 3.45% |
| Up to and including 80% | 2.90% | 4.30% |