Tag: mortgage insurance

Think Default Insurance is for High Ratio Mortgages?

The conventional thought is that default insurance is mainly for high ratio loans (mortgages with a LTV 80% or higher).  However, this is simply not true.  61.7% of insured mortgages with CMHC are for mortgages with a LTV under 80%. Source: (http://www.cmhc-schl.gc.ca/en/corp/about/anrecopl/upload/CMHC_AR2009.pdf).