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Minimum down payment the mortgage insurance cost

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Charlene is a first-time homebuyer and has found the condo of her dreams with a purchase price of $650,000. Charlene needs to know if her savings will cover the down payment if she chooses the maximum high ratio mortgage option. Calculate the minimum down payment + the mortgage insurance cost, if CMHC insurance rate is 4%.

Reference no: EM133120411

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