Mortgages when putting 20% down or more
Being eligible for a ‘conventional mortgage’ means you’re able to make a down payment of at least 20% of the purchase price. Anything less than a 20% down payment is referred to as a high-ratio mortgage.
With a conventional mortgage, you’re not required to pay default mortgage insurance premiums, which means you can pay down the mortgage balance that much quicker.
If you would like to take advantage of consultation, we also offer screen sharing allowing you to have your consultation from the comfort of your home or office. To book an appointment, go to https://calendly.com/canadamortgageprofessional