Insured Mortgage

Great option for buying a home with less than 20% down payment.

Residential owner-occupied homes only
Purchase price must be less than $1.5 million
Mortgage default insurance required

Also known as a high-ratio mortgage, where less than 20% of a home’s value is available for down payment, the mortgage must be insured by a mortgage insurer. Mortgage insurance protects lenders against mortgage default and helps consumers to purchase a home with a lower down payment. The insurance premium is calculated based on a percentage of the amount borrowed and can be paid in a single lump sum payment upfront, or added to the mortgage and included in the monthly payments.

Term	3 – 5 years
Payments	Choose weekly, bi-weekly, semi-monthly or monthly payment frequency to suit your cash flow Up to 15% of the original principal can be paid down each year on the mortgage anniversary date Scheduled payments can be increased, on an ongoing basis, by up to 15% once each calendar year
Rate	Locked in for the term of the mortgage
Amortization	Up to 25 years
Financing	Up to 95% if insured by a third party such as CMHC

Insured Fixed Rate Closed Mortgage^	Rates
3-Year	4.09%
4-Year	3.99%
5-Year	3.89%

Insured Variable Rate Closed Mortgage^	Rates
5-Year	4.30%

Have a question? Ask an Expert

Adam Franklin
Financial Advisor
Mutual Funds Investment Specialist

Our team of experienced professionals are here to answer any questions you may have.

Meet our advisory team

Insured Mortgage