The tax refund gives couples another $ 12,500 to $ 20,000 to put down on a home purchase, making it easier to get the house of their dreams, lower mortgage payments, or avoid paying CMHC mortgage insurance fees. (canadianbusiness.com)
These loans are often sought after by first time home buyers or those that may not have a lot of money to put down on a home because only 3 % is required for the down payment. (abcloanguide.com)
There is a direct relationship between the amount of money you put down on a home purchase, and whether or not you have to pay for private mortgage insurance. (homebuyinginstitute.com)