Peter and Mary make a $25 000 down payment on a $400 000 home.
CMHC charges the following rates on the loan to value ratio: Up to and including 80 percent,2.40 percent; up to 85 percent,2.80 percent; up to 90 percent,3.10 percent; up to 95 percent 4.00 percent.
What will be the CMHC insurance premium?
Illustrate the calculation on the loan insurance premium that Peter and Mary have to pay.

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The Answer of Peter and Mary make a $25 000 down payment on a $400 000 home.
CMHC charges the following rates on the loan to value ratio: Up to and including 80 percent,2.40 percent; up to 85 percent,2.80 percent; up to 90 percent,3.10 percent; up to 95 percent 4.00 percent.
What will be the CMHC insurance premium?
Illustrate the calculation on the loan insurance premium that Peter and Mary have to pay.

Peter and Mary Make a $25 000 Down Payment on a $400