What's the difference between an insured and conventional mortgage in Canada?

Homebuyer's School

Not sure which type of mortgage to get when buying your next home? What are the differences? In this episode, we talk with Mujtaba Syed, Mortgage Specialist with the Bank of Montreal, and discuss the different type of mortgages in Canada, specifically insured vs conventional mortgage. We explore the benefits of each and the differing payment plans.

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/whats-the-difference-between-an-insured-and-conventional-mortgage-in-canada

We discuss the following items:

• Difference between insured and conventional mortgage
• Benefits of each type and why they would fit your needs
• How do the payment plans differ between the two?
  • Do insured mortgages have higher payments?

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