MORTGAGE INSURANCE


If you have less than 25% of the purchase price for downpayment,
you will be required to apply for the mortgage insurance through
your lender. Mortgage insurance protects your lender against
payment default.

Having a CMHC/GE mortgage insurance together with your
mortgage enables you to borrow the mortgage amount up to 95%
of the purchase price of a home. This means you can buy a property
with as little as 5% down.

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