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Conventional mortgages require 20% down in order to avoid costly CMHC insurance fees added on the loan amount. The CMHC home mortgage insurance premium varies according to factors like property type, borrower's equity and amortization. private mortgage lenders BC Loan Insurance is required for high ratio buyers with less than 20 percent down payment. Mortgage Pre-approvals give buyers the confidence to generate offers knowing these are qualified to purchase at a certain level. More frequent mortgage repayments reduce amortization periods and total interest costs.