Comments on: Real Estate Glossary: D http://montrealrealestateblog.com/real-estate-glossary-d/?utm_source=rss&utm_medium=rss&utm_campaign=real-estate-glossary-d A fresh dose of the local market. Three times a week. Wed, 16 May 2012 08:32:42 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Danuta Levitzki Worozanska http://montrealrealestateblog.com/real-estate-glossary-d/comment-page-1/#comment-751 Danuta Levitzki Worozanska Sat, 28 Jun 2008 17:44:11 +0000 http://montrealrealestateblog.com/?p=97#comment-751 Dear readers, The 20% down payment to avoid mortgage insurance is just a general law. This allows lenders in Canada to lend up to 80% of the property market value; however, keep in mind, it does not mean that automatically any borrower or any property can qualify for mortgage financing without mortgage insurance. YES, you read correctly… Type and location of the property you are about to buy has an impact on the fact that you have to pay mortgage insurance or not. Dear readers,

The 20% down payment to avoid mortgage insurance is just a general law.

This allows lenders in Canada to lend up to 80% of the property market value; however, keep in mind, it does not mean that automatically any borrower or any property can qualify for mortgage financing without mortgage insurance.

YES, you read correctly… Type and location of the property you are about to buy has an impact on the fact that you have to pay mortgage insurance or not.

]]> By: kermit johnson http://montrealrealestateblog.com/real-estate-glossary-d/comment-page-1/#comment-21 kermit johnson Sat, 11 Aug 2007 18:00:57 +0000 http://montrealrealestateblog.com/?p=97#comment-21 Loans in the US have always required more than 20% down to avoid mortgage insurance premium. I am wondering if borrowing and underwriting standards have generally been more stringent in Canada? Sometimes I fantasize about moving from Minnesota to Toronto. The more I read Canadian real estate blogs, the more I realize that practicing real estate in Canada might be quite different. Loans in the US have always required more than 20% down to avoid mortgage insurance premium.

I am wondering if borrowing and underwriting standards have generally been more stringent in Canada?

Sometimes I fantasize about moving from Minnesota to Toronto. The more I read Canadian real estate blogs, the more I realize that practicing real estate in Canada might be quite different.

]]> By: Deyanira http://montrealrealestateblog.com/real-estate-glossary-d/comment-page-1/#comment-19 Deyanira Mon, 11 Jun 2007 21:40:38 +0000 http://montrealrealestateblog.com/?p=97#comment-19 Hello Paolo! My article needed a little update. Thanks for picking up on that missed detailed :) Hello Paolo!
My article needed a little update. Thanks for picking up on that missed detailed :)

]]> By: Paolo http://montrealrealestateblog.com/real-estate-glossary-d/comment-page-1/#comment-20 Paolo Fri, 08 Jun 2007 11:43:38 +0000 http://montrealrealestateblog.com/?p=97#comment-20 Recently law around the minimum down payment required to purchase a home changed from 25% down to 20%..! Recently law around the minimum down payment required to purchase a home changed from 25% down to 20%..!

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