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What’s the difference between a conventional loan and an insured loan?

A conventional loan is a mortgage loan with an initial down payment of at least 20%.

An insured loan is required if the down payment is less than 20%. This means that the loan must be insured by one of the recognized mortgage loan insurers, SagenTM (formerly known as Genworth), the Canada Mortgage and Housing Corporation (CMHC) Canada GuarantyTM.

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