Genworth Financial:GE 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. More about GE Mortgage Insurancee Canada at www.genworth.ca
Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than 80%. This insurance protects the lender against borrower default.
Principal Amount: The amount owed after your downpayment
Monthly Payment: How much you pay per month. Includes Monthly Taxes and Monthly Property Insurance.
Monthly Taxes: Your property taxes paid each month.
Monthly Property Insurance: Insurance paid to your lender each month. This usually occurs if your downpayment is not significant enough.
All calculations are provided as estimations and are not guaranteed by any party. Douglas Marsh, our partners, employees, and affiliates, are not liable for any errors presented on this website. Please consult with us in person to discuss your mortgage rates.