As an aspiring homeowner, you may need to learn about down payments, mortgages, and mortgage insurance. Understanding these terms can help you figure out your financial plan when buying your first house.
Mortgage insurance can be a helpful tool in allowing Canadians to pursue homeownership, as long as it is done with caution. As with any other financial product, it’s important to do your research and compare insurance policies and premiums to get the best coverage and the most competitive rate.
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Taking the Time to Reflect on What’s Really Important to You Mortgage insurance protects the lender if the borrower fails to make their payments, giving them a chance to buy a home without needing to save the full amount right away. Not only is it a great way to make homeownership more attainable, but it can also reduce your mortgage payments by lowering the amount you need to finance through the loan. |
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Live the Life You Desire: Leave the Rest to Us With our innovative and customized insurance solutions and expertise, we’re empowering you to take control of your mortgage insurance needs and make the most of your valuable resources. |
Mortgage insurance typically covers a portion of the loan amount in the event that a borrower defaults on their mortgage loan. It may also protect the lender in case of other claims, such as natural disasters or other property damage. Mortgage insurance is typically required if the borrower has put down less than 20% of the purchase price of the home and is used to reduce the lender’s risk of lending the money, since borrowers with a lower down payment usually have a higher risk of default or non-payment.
At Access Insurance, we understand that different investments carry different needs. That’s why our mortgage insurance brokers collaborate with you to help determine the coverage that best suits your investments and personal and business needs.
With our tailor-made insurance solutions and expertise, you can protect your home and assets and feel more secure about the future.
With our convenient online tools, you
can quickly get an accurate and
competitive rate that considers
your unique mortgage.
Our staff of experienced mortgage insurance brokers are also there to provide custom advice and answer any questions you have about the process so you can make the most informed decisions for your mortgage and your budge.
780-435-2400