The Canadian housing finance system has benefited over the years from the simplicity and stabilizing effect of mandatory mortgage loan insurance. This insurance eliminates the risk to lenders, allowing them to offer borrowers like you mortgage funding at much lower interest rates and with smaller down payments than would otherwise be required.
Mandatory mortgage loan insurance provides a necessary safety net to the financial system, helping to ensure the availability of mortgage funding during times of recession and economic downturns.
Talk to us about the difference between the term insurance and mortgage insurance and which one benefits you most.
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