Mortgage insurance is required when the down payment is under 20%. The premium is normally added to the mortgage, but the Ontario PST on it is payable in cash at closing. Homes over $1,500,000 cannot be insured, so they need 20% down.
Rates current as of —. These figures are estimates for planning, not a quote. Confirm current rates and your own eligibility with your lender, lawyer and mortgage broker.