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The CMHC (Canada Mortgage and Housing Corporation) insurance calculator is a useful tool for homebuyers in Canada who are considering getting a mortgage with less than a 20% down payment. CMHC insurance is a type of mortgage insurance that protects the lender in case the borrower defaults on their mortgage payments. The cost of CMHC insurance can vary depending on the size of the down payment and the total mortgage amount. By using the CMHC insurance calculator, homebuyers can input their information, such as the purchase price and down payment amount, to get an estimate of the CMHC insurance premium they will need to pay. This can help them better understand the total cost of their mortgage and make informed decisions about their home purchase.
It’s important to note that CMHC insurance is just one type of mortgage insurance available in Canada, and it’s always a good idea to explore all your options and consult with a qualified professional when making a mortgage decision.
CMHC insurance calculator
