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Mortgage Insurance

Mortgage insurance by RMDTX – whether borrower paid or lender paid – helps you serve your customers by making homeownership more affordable for them.

Best mortgage rates

How to qualify for mortgage default insurance

Only homes valued at less than $1 million are eligible for mortgage default insurance

Total debt service ratio less than
0
Gross debt service ratio less than
0
Credit score at least​
0

To qualify for mortgage default insurance, there are several financial criteria to meet. The total debt service ratio (TDS) must be less than 42%, and the gross debt service ratio (GDS) must be less than 35%. Additionally, your credit score should be at least 680. Meeting these criteria helps ensure you’re in a strong financial position to manage mortgage payments.

 

Lendevi expert advice

More than 250 advisors worldwide

Explore your
low rates

With us, you can easily explore competitive mortgage rates that fit your financial situation. Our team of experts will work with you to find the best options available.

Sign up to tailor
your options

We make it easy to sign up and customize your mortgage options. Whether you’re a first-time buyer or looking to refinance.

Build your
mortgage

We help you build a mortgage that’s right for you, based on your unique financial situation. Our team provide tailored guidance to help you make the best decision for your future.

Get your mortgage
approved

We make the mortgage approval process simple and efficient. Our experts guide you through each step, ensuring you meet all necessary criteria and receive approval in a timely manner.

Mortgage insurance

How do you pay mortgage default insurance?

Mortgage default insurance premiums are typically added to your mortgage payments. These premiums are determined by your down payment size and loan amount. Understanding how these payments work helps you plan your finances effectively.