Mortgage Insurance Providers

CMHC (Canada Mortgage Housing Corporation)

Canada Mortgage and Housing Corporation is a government owned corporation providing a  mortgage insurance program which allows buyers who have as little as a 5% down payment to obtain a mortgage.

Mortgage default insurance is required for non-conventional high ratio mortgages.  High-ratio non- conventional mortgages require borrowers to have a down payment of at least 5%.

Mortgage default insurance provides insurance to the financial institution providing the funding on the mortgage, thus eliminating the risk of the loan in cases whereby individuals have less than 20% down on a residential property.  Mortgage default insurance premiums are paid for by the borrower, and are usually paid up front or added to the amount borrowed on the mortgage. 

Non-Conventional mortgages in Canada can be amortized over a 25 year period. 

Genworth Financial Canada

Genworth Financial Canada is a private default insurance provider.

Mortgage default insurance is required for non-conventional high ratio mortgages.  High-ratio non- conventional mortgages require borrowers to have a down payment of at least 5%.

Mortgage default insurance provides insurance to the financial institution providing the funding on the mortgage, thus eliminating the risk of the loan in cases whereby individuals have less than 20% down on a residential property.  Mortgage default insurance premiums are paid for by the borrower, and are usually paid up front or added to the amount borrowed on the mortgage. 

Non-Conventional mortgages in Canada can be amortized over a 25 year period. 

Canada Guaranty

Canada Guaranty is a Canadian-owned private mortgage insurance company.

Mortgage default insurance is required for non-conventional high ratio mortgages.  High-ratio non- conventional mortgages require borrowers to have a down payment of at least 5%.

Mortgage default insurance provides insurance to the financial institution providing the funding on the mortgage, thus eliminating the risk of the loan in cases whereby individuals have less than 20% down on a residential property.  Mortgage default insurance premiums are paid for by the borrower, and are usually paid up front or added to the amount borrowed on the mortgage. 

Non-Conventional mortgages in Canada can be amortized over a 25 year period. 

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April 27, 2017

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