Blog tagged as High-Ratio Mortgages

Understanding Mortgage Insurance Premiums in Canada: A Comprehensive Guide

01.23.2025 02:24 AM - By Satish Kumar - Comment(s)

Mortgage Insurance Premiums (MIP) are a significant component of homeownership costsfor many Canadians, particularly those with high-ratio mortgages. Designed to protect lenders against default, MIP enableshomebuyers to secure mortgages with less than a 20% down payment, making homeownership more ac...