Mortgage insurance, purchase price vs. appraised value and more CMHC announcements

Recorded live on June 11, 2014

On this week’s episode we explore mortgage insurance including why you might need mortgage insurance and how mortgage insurance works. CMHC made some more announcements and we break them down for you.

PLUS: Learn about a client who waived conditions on the purchase of a new home only to learn that they may have overpaid. What was the impact to their mortgage? Watch and find out.

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00:06 – Episode summary
0:56 – Intro
1:58 – Question #1: Why do you need mortgage insurance?
6:57 – Question #2: How does mortgage insurance work?
10:29 – Real life example
15:20 – Did you know?
12:29 – More announcements from CMHC
19:39 – sign off

One Reply to “Mortgage insurance, purchase price vs. appraised value and more CMHC announcements”

  1. Mortgage insurance can be a mystery to many of us. Let us explain why it is so important and how it actually works. Also, we will look at an example of where a client removed conditions on their new purchase and had to come up with more cash. Watch to learn why.  And don't worry, we didn't forget to cover all of the #cmhc   changes for you. Find this all in this week's mlenow episode. #cdnecon   #mortgageinsurance  

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