Conventional or Unconventional

Unsure if a conventional or unconventional mortgage is the right product for you?  Contact us to learn more!

Quick Information About Conventional and Unconventional Mortgages

• Conventional means client is putting at least 20% down or there is 20% equity in property (maximum loan to value (LTV) is 80%)

• Conventional mortgages do not have to be insured with CMHC, Genworth Financial, or AIG

• Unconventional means client is putting down less than 20%, to as low as 5% (minimum LTV is 95%)

• Unconventional mortgages must be insured through CMHC, Genworth Financial, or AIG

• Mortgage insurance on unconventional mortgages is protection for the lender in the event the borrower defaults on payments

• Mortgage insurance is not the same as mortgage life insurance for the client, which will have to be acquired separately by the client if desired (highly recommended)

• Closed Mortgages
• Commercial Mortgages
• Conventional or Unconventional
• Fixed Rate
• Lines of Credit
• Open Mortgages
• Variable Rate