Low-Ratio Mortgage

A mortgage loan that is no more than 80% of the value of a home.

Low-ratio mortgages are sometimes referred to as “conventional mortgages.”

Unlike most high-ratio mortgages, low-ratio mortgages are not required by law to carry mortgage default insurance. However, lenders often insure them anyway to lower their risk.

Source: CanadianMortgageTrends.com