An insurable mortgage has at least 20% equity and meets other normal default insurance requirements, for example:

  • Purchase or transfer (no refinances)
  • 25-year maximum amortization
  • Maximum purchase price under $1 million
  • Maximum debt ratios of 39% #GDS# and 44% #TDS#

Insurable mortgages are bulk insured by the lender and securitized. They often come with lower interest rates than uninsured mortgages (but not as low as insured mortgages, where the borrower pays the insurance premium instead of the lender).

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