|
Don't forget the Cmhc only allows you to have a 25y amortization Vs 30y option if you have 20% down. So at the end of the day Cmhc will buy you less house cuz you only have 25y amortization plus you have to pay the premium. So it's less money that you can borrow if your income is the same.
And yes most people on Cmhc is obviously maxing out their borrowing already and trying to scrape by to get a place.
|