Ahigh-ratio mortgage must have mortgage default insurance. Here are the requirements you must meet to get insurance.  First, you must ensure that your amortization period is 25 years, maximum. Second, if the purchase price is between $500,000 and $999,000, a higher down payment is required: 5% for the first $500,000 and 10% of the remaining balance. Lastly, homes worth over $1,000,000 are not eligible for mortgage default insurance. This means that a high-ratio mortgage cannot be secured on these homes, which must be purchased with a down payment of at least 20%.