Robert McLister·General·April 29, 2009Conventional Mortgage A conventional mortgage does not exceed 80% of the market value of the property. This means that the borrower must have 20% or more available for the down payment. Unlike most high-ratio mortgages, conventional mortgages are not required by law to carry mortgage default insurance. (Source: CAAMP) Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.