Hi there! I'm thinking of getting a mortgage to buy my new house from through a mortgage broker from Ontario. I'm purchasing it with 5% down payment. According to the recent CMHC changes I am liable for the 15% increase in insurance premium. What if I sell this place a year later? Do I get some sort of refund on the premium, or is it a sunk cost?Also, if I'm to buy more houses, do I have to pay for another entire CMHC premium, or is the insurance portable?
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