Bill McLean Shannon McLeanSales RepresentativesWebsite sellingwithbillcomPhone © 2024© 2024© 2024Fax © 2024© 2024© 2024Email billmcleantrebnetcom
About Mortgage Insurance
Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than © 2024 This insurance protects the lender against borrower default
Note Provicial Sales Tax 8 is applicable on mortgage insurance premiums is due the date of closing and is not rolled into a mortgage Mortgage insurance premiums are exempt from the full Harmonized Sales Tax
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Mortgage Insurance Providers
CMHC
Canada Mortgage and Housing Corporation CMHC is Canadas national housing agency Established as a governmentowned corporation in © 2024 to address Canadas postwar housing shortage the agency has grown into a major national institution CMHC is Canadas premier provider of mortgage loan insurance mortgagebacked securities housing policy and programs and housing research More about CMHC can be found at httpwwwcmhcca
Genworth Financial
GE Mortgage Insurance Canada together with its related affiliates is the largest private sector mortgage insurance company in the world and the only private sector supplier of mortgage insurance in Canada httpwwwgenworthca
Mortgage Insurance Premiums Explained
Mortgage loan insurance premiums are calculated as a percentage of the loan and is based on the size of your down payment The higher the percentage of the total house pricevalue that you borrow the higher percentage you will pay in insurance premiums
LoantoValue Ratio
Up to and including © 2024
Up to and including © 2024
Up to and including © 2024
Up to and including © 2024
Up to and including © 2024
Up to and including © 2024
© 2024 to © 2024 NonTraditional Down Payment
Standard Premium
© 2024
© 2024
© 2024
© 2024
© 2024
© 2024
© 2024