Resource Library | High Ratio Mortgages -

Resource Library | High Ratio Mortgages

High Ratio Mortgages

Date Published:
Author: Chris Tioseco
Article Category: Resources for Buyers

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High Ratio Mortgage Premium

A high-ratio mortgage loan allows you to borrow more than 75% of the purchase price or the appraised value of the home, whichever is less. If this is the case, the borrower must pay a mortgage default insurance premium to protect the lender if payments are not made.

Below is a list of average High Ratio Premiums to give you an idea of what it may add to your mortgage amount. Most lenders offer you the option to have these premiums added to your total amount owed instead of pre payment.

Financing Required	Premium % of Loan Amount
Up to and including 80%	1.00
Up to and including 85%	1.75
Up to and including 90%	2.00
Up to and including 95%	3.25

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"Every real estate transaction must satisfy and fulfill your unique real estate needs." As a full time realtor, Chris Tioseco has an extensive knowledge of Vancouver, this wonderful urban city that he calls home. Driven to deliver exceptional results, Chris approaches each real estate opportunity with the same enthusiasm, expertise and professionalism that he would his own. Selecting your next home is one of the most important decisions you will ever make. Let Chris work diligently with you to achieve your current and future real estate goals." Site Updated [ 04/23/07 ]