Question: Current home price(total purchasing price): 300,000$ The down payment would be 7.83%: 23490$ Mortgage amount: 300,000 - 23490 = 276510$ ---Current mortgage amount Please Determine

Current home price(total purchasing price): 300,000$

The down payment would be 7.83%: 23490$

Mortgage amount: 300,000 - 23490 = 276510$ ---Current mortgage amount

Please Determine the CMHC premium amount based on the balance outstanding on a traditional down payment type

Given the above information please solve with the explanation:

A) The CMHC premium and mortgage amount

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