Quote:
Originally Posted by Hakkaboy
The funny thing is that they (HSBC) do charge less interest rate for taking on a higher ratio mortgage (for putting less than 20% down), but I guess you're just at their limit
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They charge less for a higher ratio mortgage because you have to pay for CHMC insurance separately. The loan is actually much less risky for HSBC because it's insured.
They'd give you the same rate with >20% if you chose to insure your mortgage, but nobody would because it's more expensive than just paying a higher rate.
-Mark