Mortgage insurance and disclosure information
A benefit of having an insured (high ratio) mortgage is a lower down payment, which allows you to buy a home sooner and take advantage of lower insured mortgage rates. The premium you pay is based on the size of your mortgage and the percentage of your down payment, and can be added to the mortgage principle. Other factors such as employment status or source of down payment also impact the calculation.
The options can be confusing, so we want to help. If you have a mortgage with Concentra and need some support, please reach us at 1.855.795.4489.