Why get mortgage insurance?
For the following three reasons
Financial protection
Mortgage insurance provides financial protection in case of unexpected events such as the borrower's death or disability, which prevents them from repaying the mortgage loan.
Asset preservation
In the event of the borrower's death or disability, mortgage insurance can fully or partially repay the mortgage balance, thereby preventing the lender from seizing the property.
Customized coverage
Mortgage insurance allows the borrower to customize their coverage by choosing beneficiaries and determining the coverage amount based on their specific needs.
Did you know?
when obtained from an insurance company rather than a bank.
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Save on your mortgage insurance!
Four ways to save on your mortgage insurance
Compare offers
Research and compare various mortgage insurance companies to find the best offer in terms of coverage and price.
Increase the down payment
By increasing your initial down payment, you can reduce the required mortgage insurance amount, resulting in long-term savings.
Improve your credit score
Maintain a good credit score by making payments on time, reducing your debt, and avoiding late payments. A better credit score can lead to more favorable mortgage insurance rates.
Regularly assess your needs
RPeriodically review your mortgage insurance needs. If the value of your loan decreases or you have repaid a significant portion of your loan, consider reducing your insurance coverage to save on premiums.
Learn more about mortgage insurance
Questions about mortgage insurance?
See the FAQ section on our website to find the answers to your questions.