Since your down payment is less than 20 you will incur a


Since your down payment is less than 20%, you will incur a CMHC premium. Based on your answer is question 3 ($1,068,750), calculate your CMHC premium. Once you calculate your premium, you will need to recalculate your mortgage amount. What will your new mortgage amount?

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Financial Management: Since your down payment is less than 20 you will incur a
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