Home Purchase Made Easier With Default Mortgage InsuranceOwning a home is a national dream not only in Canada but anywhere else in the world.

Home Purchase Made Easier With Default Mortgage InsuranceOwning a home is a national dream not only in Canada but anywhere else in the world.
The biggest obstacle to buying a home in Canada was finding the down payment. By law banks can only lend you 75%, very recently this was increased to 80%. The average British Columbia home is $430,000.00 and 20% down payment will be $86,000.00
It is possible though to buy a home with zero down payment by purchasing default mortgage insurance coverage for high ratio mortgages.
In Canada there are two major entities that provide this insurance coverage: Canada Mortgage and Housing Corporation, a Government of Canada Crown Corporation and Genworth Financial Mortgage Insurance Company of Canada, a public company.
Provided that you