High Ratio Mortgages in Ontario

In Ontario, high ratio mortgages are at the heart of making homes affordable for people from all walks of life. High ratio mortgages have played a crucial role in the development into a diverse and robust economy and community that Ontario is known to be today. High ratio mortgages are mortgages that can be obtained without a downpayment of 20%, but in return for a greater risk from the banks, the applicant is required to obtain mortgage insurance. This serves as a great option for young couples who struggle to put together a 20% downpayment. If it’s a high ratio mortgage that you are interested in, Smarter Loans is able to help you acquire one in a more easy way.

In Ontario, you’ll be able to secure a high ratio mortgage by leveraging the information that Smarter Loans has made available to you.

Instead of looking for a high ratio mortgage all on your own, through Smarter Loans, you’ll be able to ensure that you make a decision for a high ratio mortgage that is mutually beneficial over the long term. You’ll be able to do this by comparing terms, rates and offers below in the Smarter Loans directory before committing.

Weigh all fo your options and then click “apply now” when you’re ready to proceed to the online application. Before you can get confirmed and approved, you’ll need to answer a few questions in order to qualify for the high ratio mortgage. If you don’t have enough time to consider your options, you can also alternatively pre-apply with Smarter Loans and we’ll ensure that you are paired up with a high ratio mortgage and provider that is able to accommodate you.

Ontario Fact Sheet

  • On the average a household in Ontario earns an income of $74,300.
  • Ontario’s biggest hiring areas are real estate and rental and leasing, management of companies and enterprises, agriculture, forestry, fishing and hunting.
  • On the average, consumer debt in Ontario is estimated at $23,000.
  • The educational interests of Ontario population lie mostly in architecture, engineering, and related technologies, business, management and public administration, agriculture, natural resources and conservation.
  • Based on the most recent available information, an average resident of Ontario makes $30 per hour.
This data was researched in 2019 and uses various information resources, including Canada’s National Statistics Agency, etc., where the information can be as of an older date. The facts above may change as new information becomes available. We do our best to keep the information up to date.

Smarter Loans provides access to credible High Ratio Mortgage providers in Ontario for your specific financial goals.

Review our register of High Ratio Mortgage lenders to find the lowest High Ratio Mortgage rates in Ontario.

High Ratio Mortgages are generally used for

  • purchasing a home
  • obtaining a mortgage with less than 20% downpayment
  • deploying saved cash into better asset classes to earn higher returns
  • earning a higher return on initial equity
  • typically lower interest as they are guaranteed by Genworth, CMHC or Canada Guaranty

Loan Types and Cities in ontario

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