u/Adaptatech

I’ve received some conflicting information about this, so I’m looking for confirmation.

We sold our current property, closing July 27, and will have $250k equity after the sale.

We’re buying a new house June 29, before our sale closes. We have about 10 percent cash down and want to use about $150k from a bridge loan as additional down payment, which would make the total cash down around 35 percent.

Question: does the bridge loan count toward the 20 percent down payment needed to avoid CMHC insurance, or would insurance still be required because only 10 percent is actual cash on hand?

Thanks!