Mortgage Loan Insurance pays the lender in the event the mortgage borrower defaults on making payments. Such insurance is required by law for high ratio mortgages (those for an amount greater than 80% of the value of the property) and may be required under other circumstances. For more information about Mortgage Loan Insurance or to calculate the premium, you can visit CMHC or Genworth websites at www.cmhc.ca or www.genworth.ca or www.canadaguaranty.ca.
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