My Mortgage Blog

What exactly is HIGH RATIO or INSURED mortgage?

A mortgage that exceeds 80% of the purchase price This type of mortgage must be insured by CMHC (Canadian Mortgage and Housing Corporation), Canada Guaranty or Sagen (formerly Genworth).

What are the guidelines for an insured mortgage?

➡️ The home must be owner occupied.
➡️ The Maximum Amortization is 25 years.
➡️ The property value must be under $1 million.
➡️ The down payment is less than 20%

Have questions? Contact me ⤵️

Soubhi Abla
📞 (902) 213 8844