Mortgage Default Insurance

Mortgage default insurance, which is commonly referred to as CMHC insurance, is mandatory in Canada for down payments between 5% (the minimum in Canada) and 19.99%. Mortgage default insurance protects lenders, in the event a borrower ever stopped making payments and defaulted on their mortgage loan. To understand how it is calculated and paid for, watch the video below.

Asking Price $
Down payment % % % %
$ $ $ $
Amortization period
Mortgage insurance $5 $5 $5 $5
Total Mortgage Required $5 $5 $5 $5
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