Questions about this
How much is CMHC insurance in Saskatchewan?
The premium is a percentage of the mortgage that falls as the down payment rises, from four percent at five percent down to nothing at twenty percent. Saskatchewan then charges provincial sales tax on the premium, which is due in cash at closing rather than added to the loan.
Can I avoid mortgage insurance?
Put twenty percent or more down. Below that the insurance is mandatory on a Canadian residential mortgage, whichever lender you use.