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What Is a High Ratio Mortgage? — Vishal Monga — Akal Mortgages Inc.

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If you’re planning to buy a home in Canada and have less than a 20% down payment, you’ve likely heard the term   high ratio mortgage . For many first-time buyers in Saskatoon, this is the most common path to homeownership. In this guide, we’ll break down what a high ratio mortgage is, how it works, its pros and cons, and how working with the  Top Mortgage brokers in Saskatoon  can help you secure the right financing. Press enter or click to view image in full size What Is a High Ratio Mortgage? A  high ratio mortgage  is a home loan where the buyer puts down  less than 20%  of the property’s purchase price. Because the down payment is smaller, the mortgage is considered higher risk for lenders. In Canada, any mortgage with a down payment under 20% must be covered by  mortgage default insurance . This insurance protects the lender — not the borrower — if payments are missed. Example: Home price: $500,000 Down payment: $50,000 (10%) Mortgage amount:...
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5 Reasons to Consult a Mortgage Broker Before Buying a Home in Saskatoon

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Buying a home is one of the most significant financial decisions you will ever make. Whether you are a first-time buyer or upgrading to a larger property, securing the right mortgage is critical. If you are planning to purchase property in  Saskatoon, Canada , consulting a professional mortgage broker can save you time, money, and stress. Here are  5 compelling reasons  why working with  Vishal Monga — Akal Mortgages Inc.  before  buying a home in Saskatoon  is a smart move. 1. Access to Multiple Lenders and Better Mortgage Options Unlike a bank that offers only its own products, a mortgage broker works with multiple lenders. This means you gain access to: Major banks Credit unions Private lenders Alternative lending institutions A local  Saskatoon mortgage broker  understands which lenders are more flexible with self-employed applicants, newcomers to Canada, or clients with unique financial situations. Instead of limiting your choices, a bro...
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Making Your Dream Home a Reality: How Saskatoon’s Best Mortgage Brokers Can Help

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Owning a home is more than a financial milestone—it’s a personal achievement that represents stability, growth, and long-term security. In a thriving real estate market like Saskatoon, turning that dream into reality requires more than finding the right property. It requires smart financing, expert guidance, and a clear understanding of your mortgage options. This is where working with experienced mortgage professionals makes all the difference. With the support of Saskatoon’s trusted mortgage experts, buyers can navigate the process confidently and make decisions that truly support their future. The Challenges of Buying a Home in Saskatoon Saskatoon continues to attract first-time buyers, growing families, and investors due to its strong economy and diverse neighborhoods. While opportunity is abundant, the mortgage process itself can be complex and overwhelming. Buyers often face questions such as: How much can I realistically afford? Should I choose a fixed or variable rate? Which le...
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