Mortgage
Insurance
Mortgage Insurance in Canada
What is Mortgage Insurance?
Mortgage insurance helps pay back the lender if the borrower can’t pay the mortgage loan due to their circumstances.
See the difference for yourself and contact us today for a mortgage insurance quote.
What are the benefits of Mortgage Insurance?
The main benefit of mortgage insurance to Canadians is that it allows easier access to the housing market. Mortgage insurance will protect lenders so that they may give you a mortgage loan even If you don’t have a down payment of 20% or more.
Is Mortgage Insurance mandatory in Canada?
Mortgage insurance is required in Canada only if you cannot pay the minimum down payment amount, currently at 20%. Otherwise, it is optional.
Are all Mortgages Insured in Canada?
No, not all mortgages are insured in Canada. Generally, a mortgage lender will require mortgage insurance if you pay less than 20% as your down payment.
Do I need Mortgage Insurance?
You only need mortgage insurance if you have less than a 20% down payment for the home you’re buying. This is generally required by mortgage lenders. If you are paying 20% or more for the down payment, you do not need mortgage insurance.
Why should I get Mortgage Insurance through Rogers instead of a bank?
Getting mortgage insurance through Rogers insurance provides the following benefits:
- If you change banks, refinance, or sell your home you can maintain your coverage and don’t need to requalify
- Potentially cheaper mortgage insurance rates
- Proceeds of the policy can be paid to your family
- You have control over the mortgage insurance policy
This means better protection for less money. Let us show you with a mortgage insurance quote.
How much does Mortgage Insurance cost?
The cost of mortgage insurance depends on your mortgage as well as the mortgage insurance company. For the best rates, work with Rogers Insurance. Our mortgage insurance brokers will find you the most competitive prices.
This expense may be part of your mortgage loan payment or a separate cost.

Contact Rogers Insurance to learn more and get a competitive mortgage insurance quote today.