What is Mortgage Default Insurance?

Default Insurance

Why do most lenders require mortgage default insurance for home buyers purchasing homes with less than a twenty percent down payment? Canadian banks and most lenders are required by law to insure “high ratio” mortgages against default. “High ratio” refers to mortgages with less than a twenty percent down payment. Default insurance is provided by […]

Purchase Plus Improvements Mortgage

Purchase Plus Improvements Mortgage

Does the home you want to buy need a little TLC? The Purchase Plus Improvements Mortgage helps qualified home buyers make their new home just right for them. Renovation costs are included in the mortgage with as little as a 5 percent down payment. The process is simple when applying for a Purchase Plus Improvements […]