Call Marg: 705-446-1762

As if homeBuyers don’t have a hard enough time these days in buying a home, there is another whammy ahead.

If you are planning to buy a property and require financing, you should take note that new insurance premiums on mortgages will take effective on March 17, 2017.

The percentage changes are pretty significant as you can see below and while they might only cost a few extra dollars every month, they will certainly add up significantly over the life of the mortgage if you roll them into the mortgage balance to be financed.  In addition, the mortgage insurance premiums attract PST which must be paid on the closing of your transaction.

new cmhc premiums

I don’t know about you but given that CMHC has net income in the billions, this feels like a money grab on the backs of anxious home Buyers.  What do you think?

Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg

Monthly E-Newsletter

Marg Scheben-Edey

Real Estate Broker
Market Value Appraiser - Residential
Accredited Green Broker™
(designated by the National Association of Green Agents & Brokers)

RE/MAX four seasons
realty limited, Brokerage
Each Office Independently Owned & Operated
67 First Street, Collingwood L9Y 1A2

Contact Marg

 Direct: 705-446-1762

Prefer Text? 705-446-5066

Email Marg

© Copyright 2017 collingwood-bluemountain.com. All Rights Reserved.

Privacy Policy | Sitemap

Get Marg's Newsletter Delivered to Your InboxMonthly

Hey, it never hurts to know more about the local market and the goings on, does it? Stay “in-the-know” about the South Georgian Bay real estate market as well as local news, great new businesses and other fun stuff. At least you’ll have some impressive local trivia at the next cocktail party! Now, I just need a little info from you. (This information will never be shared – I promise!)

Success!

Pin It on Pinterest