Here is a schedule of the actual increase in fees.
For my comments on what this all means see my last post here
Please contact me by phone at 403-681-4376 or my email at mark.herman@shaw.ca
Data:
- Increases are only for 5% down payment buyers.
- Clients who get submissions in prior to June 1stwill be eligible for old premiums.
- Effective June 1st, (owner occupied 1 – 4 unit) mortgage loan insurance premiums will be:
| Loan-to-Value Ratio | Standard Premium (Current) |
Standard Premium (Effective June 1st, 2015 |
| Up to and including 65% | 0.60% | 0.60% |
| Up to and including 75% | 0.75% | 0.75% |
| Up to and including 80% | 1.25% | 1.25% |
| Up to and including 85% | 1.80% | 1.80% |
| Up to and including 90% | 2.40% | 2.40% |
| Up to and including 95% | 3.15% | 3.60% |
| 90.01% to 95% — Non-Traditional Down Payment | 3.35% | 3.85% |
All this from Mortgage Mark Herman, top Calgary Alberta mortgage broker for home purchases and mortgage renewals.