Financial institutions are required by law to insure all mortgages with a loan to value (LTV) ratio of less than 80%. This insurance protects the lender against borrower default, enabling you to purchase a home with a lower down payment.
Premiums are calculated as a percentage of the mortgage and depend on the amount of the down payment relative to purchase price. The lower the down payment is, the higher the premiums will be.
| Total purchase price ? | |
| Down payment ? | |
| Down payment percentage | 0.00% |
| Results | |
| Total purchase price | 0.00 |
| Down payment | 0.00 |
| Mortgage insurance premium | 0.00 |
| Total mortgage amount | 0.00 |