A “High Ratio Mortgage” is a mortgage with higher than 80% Loan to Value (LTV). There is always an insurance premium on top of the loan amount, which can be amortized into the mortgage payments, or to be paid upfront.
The higher the LTV, the higher the premium rate. Different insurance premium is applied on different property tyeps (owner occupied, rental, second home, etc) Contact us for the complete insurance premium rate for fully salaried and self-employed programs.
Filed under: FAQ, Zero Down Mortgages
[...] the standard term, 25 year amortization, and usually has no insurance premium on top. See “Righ Ratio Mortgage” for comparison. Possibly related posts: (automatically generated)Raw Land and Acreage [...]
[...] days in your bank account), chances are you will be turned down, especially if you are borrowing at high ratio. The solution to you is to go for an alternative programs offered by either GE, Cove, or Excaliper. [...]