Maybe an insured mortgage isn't that bad after all

Do your clients ever complain about having to go through CMHC/Genworth/Canada Guaranty when they don’t have more than 20% down? Did you know that insured mortgages (when a client puts down less than 20% and has to pay mortgage default insurance) can actually get interest rates lower than those clients that put more than 20% down? With an insured mortgage the lender knows that they can get their money back if the client defaults, and therefore some lenders will actually reward the clients by offering them a lower interest rate. When clients put down more than 20%, lenders will often pay the mortgage default insurance premiums themselves, and then increase the interest rate to recoup that cost.
 
So you can always tell your client going through CMHC isn’t all that bad, and that they could actually get a lower rate!