myedmontonlawyer.com
2 critical things to know if your mortgage is insured
What is Mortgage Loan Insurance? Mortgage loan insurance is an insurance policy that protects your mortgage lender in case you default on your mortgage. Mortgage loan insurance is usually required where your downpayment is less than 20% of your purchase price. Mortgage loan insurance is offered by Canada Mortgage and Housing Corporation ("CMHC") and Genworth Financial Canada