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If you have an existing mortgage and wish to port your higher mortgage for a new home do you pay for cmhc insurance on the whole new amount of the mor

 
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Roma


If you have an existing mortgage and wish to port your higher mortgage for a new home do you pay for cmhc insurance on the whole new amount of the mortgage or just the additional amount? Spiros
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    hodgehouse
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    You must make sure when telling the agent at the bank that is doing your deal that you do not want to pay multiple CMHC fees. If they over look thsi it will costs you thousands. If done correctly, you will only pay CMHC fees on the difference between the new and current mortgage being PORTED.

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