Mortgages and down payments in Canada used to be very simple: there were about 6 different mortgages to choose from, and a clear "minimum" when it came to down payments. Today, there are hundreds of mortgages to choose from and a down payment may not even be required. If you put less than 20% down on the purchase of a home, mortgage insurance will be required. The good thing is the mortgage insurance is just tacked on to your mortgage, the bad thing is you might not even notice that it is there!As you learned in Read More...
[Source: The Money Blogs]
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