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Tuesday, January 11, 2011

Can CMHC charge me a fee because of the size of the house?

just wondering if i was to buy a property that is under 1000sq ft and put 20 percent down can CMHC charge me a fee because of the size of the house?


i bought a property almost 1 year ago and basically had to pay approx $1,800 more because the house was under 1,000sq ft. 

That was your bank's requirement, not CMHC.
If you are putting 20% down then CMHC would not come in to picture and it would depend on the banks policy on lending on condo/houses for a lower square foot area. Some banks may have restrictions on landing on any condo below 650 sq ft. so if the area is over that you should be fine.

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