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A house is appraised at $298 000 and you have a down payment of $25 000. CMHC charges the following rates on the loan to
A house is appraised at $298 000 and you have a down payment of $25 000. 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 approximate total amount of the mortgage if the CMHC fee is included in it? O A. $283 920 O B. $280 152 O C. $281 463 OD. $280 644
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