Mortgage loan insurance
The minimum down payment required to purchase a property is 5%. If your down payment is less than 20% of the value of the property you wish to purchase, your loan must be insured by a recognized insurer such as the Canada Mortgage and Housing Corporation (CMHC) or Genworth. A premium based on your down payment and loan is calculated and then added to your mortgage.
Click here to find out more about CMHC mortgage loan insurance.
Click here to find out more about Genworth mortgage loan insurance.