 What
is Mortgage Insurance?
Mortgage
insurance
is insurance which protects the lenders in case there is a default in
mortgage
from the mortgagor. In Canada, the lenders are willing to make mortgage
loans with downpayment smaller than 20% or a loan of greater than 80%
of
the property value.
In
Canada there
are three main companies offering this kind of insurance:
They
all have almost
similar products and also offer unique products for the self-employed.
Member,
Canadian Association of Accredited Mortgage Professionals E. & O.E.
|
