High Ratio vs Conventional Mortgage

• Your loan to value is exactly what it sounds like, the size of your mortgage in relation to the value, written as a percentage.
• If your loan to value is more than 80%, you have what is called a high-ratio mortgage.
• A high-ratio mortgage is when you own less than 20% of your home.
• If you own less than 20% you are required to get mortgage default insurance‍

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• A conventional mortgage is when you own 20% or more of your home and your mortgage amount is less than 80% of the value of your home.