If your down payment is less than 25% of the purchase price of the property, the lender is going to require either private' Mortgage Insurance' or public mortgage insurance through Genworth Mortgage Insurance Corporation or Canada Housing and Mortgage Corporation (CMHC). The fee is calculated as a percentage of your mortgage. This is known as default insurance. (Please note that Invis will calculate this amount for you automatically if your mortgage falls into this category.).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). mortgage insurance. Retrieved September 21, 2026, from http://smartdefine.org/mortgage_insurance/definitions/1158480 |
| Chicago | Barry Goldsmith. 2010. "mortgage insurance" http://smartdefine.org/mortgage_insurance/definitions/1158480 (accessed September 21, 2026). |
| Harvard | Barry Goldsmith 2010, mortgage insurance, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/mortgage_insurance/definitions/1158480>. |
| MLA | Barry Goldsmith. "mortgage insurance" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/mortgage_insurance/definitions/1158480> |