High Ratio Mortgage

A mortgage with a loan-to-value over 80%.  In other words, a mortgage where the borrower has put down less than 20%.

In Canada, most high ratio mortgages have to be insured against default.  This requires the borrower to pay mortgage default insurance premiums to an insurer like CMHC, Genworth, or Canada Guaranty.


Source: CanadianMortgageTrends.com