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Old-fashioned mortgage loans encompass the latest debtor bringing at least 20% down payment High-proportion mortgage loans, having said that, involve consumers who aren’t in a position to provide the 20% downpayment; particularly mortgages require .mortgage insurance rates below government law. Financial insurance protects the lending company in case there are borrower standard, and that’s usually set that have Canada Home loan and you may Construction Firm (“CMHC”) otherwise which have Genworth Economic Canada Home loan Insurance company Canada (formerly GE Mortgage Insurance policies Canada) (“Genworth”).