For most people, the hardest part of buying a home especially a first home is saving the necessary down payment. Mortgage Loan Insurance creates opportunities for homebuyers the opportunity to purchase a home with as little as 5% down at the same competitive interest rate as a homebuyer with much larger down payments. CMHC, AIG and Genworth are the three main insurers in Canada.

If you have less than 20% of the purchase price for your down payment than all lenders require the borrower to have Mortgage Loan Insurance with either of the two insurers in Canada. CMHC, AIG and Genworth offer many products to meet the changing needs of Canadians. They have introduced innovations such as purchasing a home with just 5% down, opportunities to access the equity in the home through flexible refinancing, mortgage loan insurance for lines of credit, second homes and for the self-employed that puts the self-employed on the same footing as salaried homebuyers. All these innovations provide homeowners with greater choice and financing flexibility.