What is Insured Mortgage in Canadian mortgages?
A mortgage with less than 20% down payment (LTV > 80%) that requires CMHC default insurance. Enables higher LTV financing and often carries lower interest rates than conventional mortgages.
What is the Insured Mortgage limit for Canadian mortgages?
LTV 80.01%–95%, owner-occupied, purchase price ≤ $1.5M
Insured Mortgage example
Worked example
$600,000 home with $30,000 down (5%) = $570,000 mortgage = 95% LTV = insured.