Title Insurance

What is title insurance?

What does it cover, and what are examples of how it helps?
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What are the types of title insurance?

Is title insurance the same as a Real Property Report (RPR)?

Mortgage Insurance

Mortgage default insurance or MDI (aka CMHC insurance), is mandatory in Canada for down payments between 5% (Canada's minimum) and 19.99%. MDI protects lenders, in the event a borrower ever stopped making payments and defaulted on their mortgage loan.

Although MDI costs homebuyers 2.80% - 4.00%¹ of their mortgage amount, it does allow Canadians, who might not otherwise be able to purchase homes, access to the Canadian RE market. Without it, mortgages would be higher, as the risk of default would increase. Lenders are able to offer lower mortgage rates when mortgages are protected by MDI, because the risk of default is passed along to the mortgage insurer.