First National now offers a self-insured mortgage that shaves off 0.40% from mortgage default insurance premiums. On a $250,000 mortgage with 5% down homeowners save about $1000 (not factoring in the interest rate).
The product is designed specifically for high loan-to-value mortgages. Most lenders require that high-ratio borrowers get insurance from 3rd-parties like CMHC or Genworth. A high ratio mortgage is one with less than 20% down.
First National products are available only through mortgage brokers.
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