High Ratio Mortgages and Mortgage Default Insurance
A high ratio mortgage is where the borrower’s down payment is less than 20% of the property’s purchase price. In Canada, such mortgages require insurance because they are considered higher risk and necessitate “default insurance” coverage.
4 Ways To Buy A Home With No Down Payment
Owning a house is a significant milestone but requires a substantial financial commitment! One of the essential requirements when buying a home is having a down payment towards the purchase price.
Benefits Of A Well-Planned Down Payment Strategy
Buying a house is a significant decision with a big price tag. Saving for a down payment is crucial, but does conventional wisdom about down payments hold?