What is Conventional Mortgage in Canadian mortgages?
An uninsured mortgage where the borrower has at least 20% down payment (LTV ≤ 80%). No CMHC insurance required. Maximum 30-year amortization.
What is the Conventional Mortgage limit for Canadian mortgages?
LTV ≤ 80%, down payment ≥ 20%
Conventional Mortgage example
Worked example
$800,000 home with $160,000 down (20%) = $640,000 mortgage = 80% LTV = conventional.