Tag: Mortgage

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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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.

READ MORE

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