Down Payments



A mortgage that does not exceed 80% of the purchase price or value of the home, whichever is lower. Mortgages that exceed this limit must be insured against default by CMHC, Genworth or Canada Guaranty, and are referred to as high-ratio mortgages.
If a buyer's deposit is less than 20% of the purchase price (or value of the property, whichever is lower) the mortgage must be insured against payment default by a Mortgage Insurer, such as CMHC, Genworth or Canada Guaranty.

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