Comparison of Canadian and U.S. Mortgage Insurance Premia on Prime Loans
(Source: CMHC, Fannie Mae and Freddie Mac)
|LTV||Canadian - paid upfront||United States - paid annually1/|
|80.01 – 85%||175 bps||32 bps|
|85.01 – 90%||200 bps||52 bps|
|90.01 – 95%||275 bps||67 bps|
The U.S. premia do not include recently introduced upfront loan-level price adjustments and adverse market delivery charges, that apply to loans to borrowers with FICO credit scores below 720.