Charlene is a first-time homebuyer and has found the condo of her dreams with a purchase price of $650,000. Charlene needs to know if her savings will cover the down payment if she chooses the maximum high ratio mortgage option. Calculate the minimum down payment the mortgage insurance cost, if CMHC insurance rate is 4%.

Answer rating: 100% (QA)

Absolutely lets calculate the minimum down payment and mortgage insurance cost for Charlenes condo M... View the full answer