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Oliver Reprich

Oliver Reprich Muskoka REALTOR

What is mortgage loan insurance?

Mortgage loan insurance is insurance provided by Canada Mortgage and Housing Corporation (CMHC), a crown corporation, and GE Capital Mortgage Insurance Company, an approved private corporation. This insurance is required by law to insure lenders against default on mortgages with a loan to value ratio greater than 75%. The insurance premiums, ranging from .50% to 3.75%, are paid by the borrower and can be added directly onto the mortgage amount. This is not the same as mortgage life insurance.

More common questions related to the topic: Mortgage

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Can I use gift funds as a down payment?

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MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

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