A mortgage that is up to 65% of the home’s appraised value or purchase price (whichever is less), this is known as the loan-to-value ratio. Insurable Mortgage is the new term for what was traditionally called a conventionally insured mortgage. Insurable Mortgages are insured under a bulk insurance policy of the mortgagee (lender) that protects the lender against default when the borrower is putting 35% or more down payment for the purchase price and financing the rest. There are three (3) mortgage insurance providers in Canada, Canadian Mortgage and Housing Corporation (CMHC), Canada Guaranty and SAGEN (formally known as Genworth).