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. Insured Mortgage is the new term for what was traditionally call a High-Ratio Mortgage. Insured Mortgages must be insured to protect the lender against default when the borrower is putting less than 20% down payment of 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).