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New Changes Minimum Downpayment Income
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Hey Everyone! With the new changes to the $1.5million dollar cap, I was wondering if someone could walk me through a hypothetical scenario. Looking to purchase a $1.15m condo in Downtown. Assuming I want to put down the minimum possible downpayment on an insured mortgage, what would be the downpayment, mortgage insurance that I need to have? How much income would I need to qualify assuming no debt? Lets assume interest rates go down to 3%
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- 3 months ago
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