Here's a snap shot of what it looks like to buy a $350,000
re-sale home using the 5% Incentive:
*Monthly Payments calculated based on a 5 year term, 25 year amortization at an interest rate of 2.89%.
10% incentive
Here's a snapshot of what it looks like to buy a $400,000 brand new construction home using the 10% Incentive:
*Monthly Payments calculated based on a 5 year term, 25 year amortization at an interest rate of 2.89%.
Mortgage
Insurance
If your down payment is less than 20% of the purchase price of your home. you will need Mortgage Insurance. Often referred to as "CMHC", the fee is calculated on a sliding scale; the more you put down, the less the fee.