Uninsured Mortgages

Avoid Mortgage Insurance Fees and Secure Greater Flexibility with Conventional Financing.

Buying a home with a down payment of 20% or more means mortgage default insurance is not required, opening the door to a conventional, uninsured mortgage. Whether you are buying your primary residence, purchasing an investment property or buying a home priced at $1.5 million or more, an uninsured mortgage lets you avoid the insurance premium and gives you more flexibility in how your mortgage is structured.

What Is an Uninsured Mortgage?

An uninsured mortgage, often called a conventional mortgage, is a mortgage where your down payment (or equity) is at least 20% of the property’s value, so mortgage default insurance from CMHC, Sagen or Canada Guaranty is not required. You save the upfront insurance premium, which can range from 2.80% to 4.00% of the mortgage amount, and you gain access to options that insured mortgages don’t allow.

One point many buyers don’t expect: because insured mortgages are backed by the insurer, they often carry slightly lower interest rates than uninsured mortgages. With 20% or more down, the premium savings usually outweigh a small rate difference, and we compare both so you can see the true total cost.

Benefits of Uninsured Mortgages

Save thousands by avoiding upfront mortgage default insurance premiums.
Choose an amortization of up to 30 years with many lenders to lower your monthly payment, regardless of whether you are a first-time buyer.
Finance properties that are not eligible for default insurance, such as homes priced at $1.5 million or more and non-owner-occupied rental properties.
Compare conventional rates across banks, credit unions and monoline lenders to find the best overall value.
Refinance in the future up to 80% of your home's appraised value, subject to qualification.
Move forward with expert guidance and a cost-effective financing strategy tailored to your budget.

Our Uninsured Mortgage Solutions

20% Down Payment Structuring

Receive expert guidance on calculating and positioning your 20% or greater down payment to seamlessly qualify for conventional mortgage products.

Extended Amortization Planning

Explore financing options with amortization schedules extending up to 30 years, designed to optimize your monthly cash flow and reduce payment pressure.

Conventional Rate Comparison

Compare conventional rates across banks, credit unions and monoline lenders, and see how rate, term, prepayment privileges and penalty terms combine to determine your true borrowing cost.