A mortgage that is more than 80% of the home’s appraised value or purchase price (whichever is less), this is known as the loan-to-value ratio. High-Ratio is a legacy term that is now known by the name Insured Mortgage. Insured Mortgages (High-Ratio mortgages) must be insured to protect the lender against default with one of the three (3) mortgage insurance providers in Canada, Canadian Mortgage and Housing Corporation (CMHC), Canada Guaranty and SAGEN (formally known as Genworth).