Note: All fields require
values with the exception of the following: fields indicated with a **
symbol only require values if the down-payment amount is less than20% of
the property price.
What is CMHC Mortgage Loan Insurance?
Mortgage loan insurance is typically required by lenders when homebuyers make a downpayment of less than 20% of the purchase price. Mortgage loan insurance helps protects lenders against mortgage default, and enables consumers to purchase homes with little or no downpayment — with interest rates comparable to those with a 20% downpayment.
| For references purposes, CMHC (http://www.cmhc.ca) and GE insurance
premiums are as follows: |
| 100% financed = 2.90% |
90%-95% = 2.75% |
85%-90% = 2.00% |
80%-85% = 1.75%
|