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What’s the difference between a conventional loan and an insured loan?

A conventional loan is a mortgage for which you’ve made a minimum down payment of 20%

You should opt for an insured loan if your down deposit is less than 20%. This means that the loan must be insured by one of the recognized mortgage loan insurers, SagenTM (formerly known as Genworth), the Canada Mortgage and Housing Corporation (CMHC)or Canada GuarantyTM

Good to know: 

You can use your RRSP to finance your down payment

Want to learn more? 

TM Sagen is a trademark of Genworth Financial Canada Mortgage Insurance Company.

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