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If i upgrade to a new home do I need to pay cmhc fees again

 
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Lemuel


If i upgrade to a new home do i need to pay cmhc fees again?
0     In Mortgage Cont.10

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    Q. Do cmhc fees need to be paid if i move my mortgage to a new lender?


    You do not have to. The insurance should only be on the top-up amount of the loan. Be careful though as CMHC may not agree on the valuation of the property if it is a top-up insurance and you may not get the property value you need to renew or refinance a mortgage.

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