The Deltons have found a property valued at $225,000 and they would like to apply the entire TFSA balance towards their home. They have brought in the listing of the property. They have produced their offer to purchase and all income documentation. You can now begin the mortgage application CMHC TABLE 2021 Premium on Total Loan Loan-to-Value Standard Purchase Premium Up to and including 85% 0.60% Up to and including 75% 1.70% Up to and including 80% 2.40% Up to and including 85% 2.80% Up to and including 90% 3.109 Up to and including 95% Traditional Down Payment 4.00% Non-Traditional Down Payment 4.50% Calculate CMHC premium using their down payment 8515 8155 9570 0750 Calculate their mortgage with the CMHC premium you calculated. 2.35% for 5 years with a 25 year amortization. Be sure to use the stress test 1208.04 05720 075 20 100204