As of November 2, 2023
1 yr Fixed
Insured mortgage rates are typically for less than 20% down payment and are insured against default through the CMHC or comparable default insurer. This involves a one time insurance premium built into the mortgage principal. Maximums: 25 YR amortization, $999,999 purchase price. No refinances.
Insurable mortgages follow similar criteria as insured mortgages, but because these are 20%+ down payment/equity, there is no default insurance premium or additional cost built into the mortgage. Available for purchase and renewal, but not refinance/ equity takeout.
Uninsured mortgages are available for purchases of $1,000,000+ and refinance/equity take out transactions. Additional flexibility of uninsured mortgages includes optional 30 year amortization and more flexible borrowing limits.
Private: Altrua Financial Mortgage Rates
6.59%Comes with higher risk/reward