mortgage simple definition: What is Mortgage Insurance?

What is Mortgage Insurance?

What is Mortgage Insurance?. [MORTGAGE] FHA or Conventional [Home Loans] FHA Loan Loan Requirements [Mortgages]

What is Mortgage Insurance? video duration 2 Minute(s) 49 Second(s), published by Live in Edmonton on 14 05 2019 - 14:00:00.

What is Mortgage Insurance? There's different types and people often get confused about the different kinds that are involved when you buy a home
In this Steve Sims on Realtors and Refi's.

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What is Mortgage Insurance?
There's different types and people often get confused about the different kinds that are involved when you buy a home. In this video, Ron Lefebvre of Pure Mortgage talks about the different kinds and what each insurance purpose serves.

0:37 1. CMHC Insurance - not optional if you are doing less than 20% downpayment, this is protection for the bank. The only way to avoid this is to put 20% down or more.
Some benefits is that you could have lower interest rates with CMHC insured mortgage.

1:40 Mortgage Life Insurance - this is optional and can be waived. You can have your mortgage covered in your life insurance vs taking the one offered by the lender.

2:09 Home Insurance - this insurance is needed to protect your property if a fire , theft etc happens on the home. You can get this through the same insurance company you get your car insurance from.

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