Mortgage loan insurance protects your lender against default. If your mortgage exceeds 80% of the property’s value, your lender will likely require this insurance from CMHC or a private company. This insurance mitigates the lender’s risk, allowing you to secure a mortgage with a smaller down payment. It ensures that the lender is covered if you fail to repay the loan, making homeownership more accessible while safeguarding the lender’s investment.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Should You Co-Sign a Mortgage

    To Co-Sign or Not to Co-Sign: A Mortgage Dilemma Considering co-signing a mortgage with a friend or family member can [...]

  • Home Buying Guide

    Buying a home in Canada can be both exciting and daunting. With a competitive market and unique regulations, it's essential [...]

  • Breaking Your Mortgage Contract in Canada

    Breaking a mortgage contract in Canada is a significant decision that can have various financial implications. Whether you're considering this [...]