Tag: Down Payment

High Ratio Mortgages and Mortgage Default Insurance

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

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.

High Ratio Mortgages and Mortgage Default Insurance

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.

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