Mortgage Resources

  • Mortgage Insurer
  • Mortgage Life Insurance
  • Credit Report
  • Credit Card

Mortgage insurance protects the lender against payment default by the homebuyer. Most lenders require it if the homebuyer has less than 20 percent of the purchase price as a down payment.

CMHC Mortgage Insurance

By providing mortgage loan insurance to lenders, CMHC enables homebuyers to finance up to 95 percent of the purchase price of a home.

Over the years, CMHC mortgage insurance products have responded to the changing needs of Canadians. CMHC introduced innovations such as purchasing a home with just five per cent down and financing renovations at the time of purchase to provide homeowners with greater choice and home financing flexibilities.

CMHC led the market with the introduction of emili, CMHC’s automated insurance risking systems, in 1996. This on-line system makes the application process for mortgage loan insurance faster and the risk assessment of the application more precise. Through innovations such as emili, and the experience we have gained through its use, CMHC is able to pass on the benefits to Canadians in the form of lower premiums, and make homeownership more affordable.

The following are the premiums:

Loan Amount as % of home value Premium on total loan(%)
Up to an including 65% 0.60%
Up to an including 75% 0.70%
Up to an including 80% 2.40%
Up to an including 85% 2.80%
Up to an including 90% 3.10%
Up to an including 95% 4.00%
90.1% to 95% *Non Traditional 4.50%

Provided by CMHC.
Visit the CMHC website for more information

Genworth Mortgage Insurance

Genworth Mortgage Insurance Canada together, with its related affiliates, is the largest private sector mortgage insurance company in the world and the only private sector supplier of mortgage insurance in Canada. Genworth works in partnership with lenders, mortgage brokers, real estate agents and builders to make housing more affordable to Canadians. We combine our experience in mortgage default insurance with our strength in technology and our extraordinary commitment to quality to provide our customers with the level of service they expect.

Genworth offers a competitive choice of flexible mortgage default insurance products for the purchase, renovation or refinancing of homes across Canada. These include a portability feature, introduced to Canadians by Genworth.

Genworth understands the importance of fast, reliable processing of mortgage insurance applications. Genworth Excel, our fully automated delivery and decision system enables us to receive, process and in many cases approve applications within minutes.

Genworth has been known for years as a name trusted for quality and dependability.

Visit the Genworth website for more information

Canada Guaranty

On April 16, 2010, a Canadian private investor group, comprised of the Ontario Teachers’ Pension Plan and National Mortgage Guaranty Holdings Inc., acquired AIG United Guaranty Mortgage Insurance Company Canada. This transaction created the only 100% Canadian-owned private mortgage insurance company, known as Canada Guaranty Mortgage Insurance Company (“Canada Guaranty”).

The introduction of Canada Guaranty benefits lenders, mortgage professionals and consumers by fostering a competitive market dynamic and creating more choice among mortgage insurance providers. With a comprehensive suite of products, mortgage insurance from Canada Guaranty protects lenders and investors from losses related to borrower default and foreclosure.

Canada Guaranty is dedicated to earning our partners’ business by delivering best-in-class service in all of our interactions, as demonstrated by:

  • A knowledgeable and proactive team committed to creating a superior customer experience.
  • Regionally based underwriters providing local market expertise across Canada.
  • Ensuring all calls to our Underwriting Centres are answered directly by a decision maker.

It’s an exciting time to be part of the Canadian housing finance community. You can trust in our commitment to meet your business needs, both today and in the future.

Visit the Canada Guaranty website for more information

Mortgage insurance protects the lender against payment default by the homebuyer.

The Life Insurer - Manulife Financial

Mortgage Protection Plan has protected Canadian mortgage borrowers since 1995. It is the largest independent plan of its kind, insuring more than 150,000 clients. It is offered by Credit Security Insurance Agency Inc. and underwritten by The Manufacturers Life Insurance Company.

Manulife Toll Free Number 1855-685-4339

Learn more at Manulife Financial

Business information providers like Trans Union and Equifax collect and organize information about an individual’s credit and payment habits. The information is available to those with a legal permissible purpose to see it in the form of a credit report.

Credit reports are one of the primary tools that creditors use to make fair and accurate decisions on whether or not to grant credit. Your credit report is a snapshot of your financial trustworthiness.

You have the right to access your personal credit information. Upon review, if you disagree with the content of your credit report you have the right to dispute the information.

Credit Report Agencies

Equifax

Home Trust Credit Card

Build or re-build credit. Ideal for anyone with damaged credit or no credit history. The Secured VISA credit card “secured” by a deposit. The credit limit is equal to the amount of the security deposit – $500 – $10,000.

Home Trust Secured Visa Application with Fee click HERE.

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