Mortgage Calculators from Genworth Canada


These calculators are provided by Genworth Canada which "is the largest private residential mortgage insurer in Canada (CMHC is the government run equivalent). Genworth provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers."

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What is Mortgage Default Insurance?

Mortgage Default Insurance, commonly referred to as Mortgage Insurance, allows homebuyers to achieve the dream of homeownership with a low down payment.

There are two types of mortgage options:

  • conventional mortgages – on loans with a minimum 20 per cent down payment
  • high-ratio mortgages – on loans with a less than 20 per cent down payment

In Canada, mortgage insurance is required federally on high-ratio mortgages – that is, mortgages with a down payment of 20 per cent or less. This insurance, which protects the lender in case of borrower default, gives lenders the flexibility to offer borrowers with low down payments the same low interest rates they would offer to homebuyers with more equity.

Mortgage insurance premiums are based on the amount of the mortgage and although they can be paid in a lump sum upon closing, they are normally added to the mortgage amount and paid over the length of the mortgage.

This insurance is not to be confused with mortgage life insurance which protects homeowners and their families in the event of death or illness. For more information and resources to help understand mortgage insurance and the overall homebuying process, visit the Genworth Homebuyers section at – See more at:


Why Choose Genworth?

Many homebuyers do not realize they have a choice when it comes to purchasing mortgage insurance.

Although current pricing and product options are regulated by the Federal Government and therefore consistent among mortgage insurance providers, there are exclusive service offerings provided by Genworth Canada with which home buyers should be aware.

These include access to Genworth Canada's Homeowner Assistance Program, which last year alone helped more than 4,600 families stay in their homes during difficult financial times. In fact, since inception of the program in 1995, Genworth Canada, working together with our lender customers, has helped more than 19,000 families avoid losing their homes through workouts and other solutions.

Other benefits of a Genworth Canada-insured mortgage include access to our exclusive Homebuyer Privileges program. Available through select lenders and mortgage brokers, this program offers discounts and special offers on home-related products and services through a variety of nationally recognized vendor partners.

To find out more about what Genworth Canada has to offer, talk to your lender or mortgage professional. –

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