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oread
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For downpayment less than 25%, you must buy a mortgage insurance, which is between 1% to 3.25% of the total price of property (check www.cmhc.ca for details). Chinese tend to pay at least 25% down, but Canadians rarely pay that much, it all depends on your financial situation.

There is no difference in downpayment when it comes to newly constructed home or resale homes. However I've heard that the bank usually requires 50% downpayment if you are not a first-time home purchaser.
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旧 2004-09-27, 13:47 #2