This Page’s Content Was Last Updated: April 2026
This Page’s Mortgage Rates Were Last Updated: April 27, 2026 1:10 PM ET
Typically 20%+ down, but outside “insurable” criteria
Often includes rentals, refinances, 30-year amortizations
Rates are often higher than insured/insurable tiers
Flexibility may be better depending on lender and product
Strategy matters: rate + penalty + future refinance plans
Uninsurable mortgage rates apply when a mortgage cannot qualify under insurer-style rules—meaning it cannot be treated like an insured-eligible file. This category often includes 30-year amortizations, rental properties, refinances, and higher-value homes, depending on lender rules.
Uninsurable mortgages can still be excellent solutions, but pricing and flexibility vary significantly.
Common reasons a mortgage becomes uninsurable:
Many lenders price 30-year amortizations in uninsured/uninsurable tiers.
True rentals often fall into uninsurable tiers.
Refinances typically price as uninsured/uninsurable.
Some properties fall outside insurer-style rules depending on guidelines.
Learn more about today’s best mortgage rates in Canada.
This Page’s Mortgage Rates Were Last Updated: April 27, 2026 1:10 PM ET
Important: Actual pricing depends on credit, income, down payment, property type, and lender program.
Uninsurable pricing is often higher because:
lender capital requirements are different
risk is not mitigated by insurer-style eligibility
deal flexibility varies and may increase pricing
But “higher rate” doesn’t automatically mean “worse.”
Sometimes uninsurable products offer:
better prepayment options
better suitability for investors
longer amortizations that improve cash flow
Rental mortgages are commonly uninsurable. Lenders may still use rental income to qualify, but rules vary by lender and property type.
If you’re refinancing to:
consolidate debt
access equity
restructure your term
Your mortgage will often be treated as uninsured/uninsurable pricing.
Mortgage penalties (important for refinance):
Identity
2 IDs (front/back)
Income
salaried: LOE + pay stubs
self-employed: NOA + T1 + business docs as required
Property
mortgage statement (if refinance)
property tax bill
payout statement (requested during process)
appraisal may be required
Check out our Mortgage Document Checklist for a complete list of documents required based on your specific mortgage journey.
Insurable
20%+ down
commonly 25-year amortization
often owner-occupied
more competitive rate tiers
Uninsured/uninsurable
20%+ down but outside criteria
could be 30-year amortization, rental, refinance, etc.
pricing usually higher
Often used interchangeably, but “uninsurable” explains why the file can’t fit insurer-style rules.
Usually higher than insured/insurable tiers, but product features and flexibility can differ.
Most do, though lender policy varies.
Most refinances are treated as uninsured/uninsurable pricing.
Ignoring penalty structure and future flexibility.
Our advice: treat uninsurable financing like a strategy decision:
choose the right term (not always 5-year)
understand prepayment and break costs
build an exit plan (renewal, refinance, sale)”
Simplify your financial planning with our full calculator suite:
Best fit for:
rental property buyers/investors
homeowners refinancing for debt consolidation or equity access
buyers wanting 30-year amortization
higher-value purchases that fall outside insurable tiers
borrowers prioritizing flexibility and strategy
Not ideal if:
you qualify for insurable pricing but accidentally structure yourself out of it
you need the absolute lowest rate and have the option to go insured/insurable
you expect to break early and haven’t evaluated penalties
We help you:
determine if your file can be structured as insurable instead
compare uninsurable tiers across lenders (A, alternative, private if needed)
review penalty risk before you lock in
model cash flow impact of 30-year vs 25-year amortization
plan renewal/refinance timing
Explore Related Mortgage Resources:
Mortgage Penalties – Understand potential break fees and costs
Rental Property Mortgages – Financing options for investment properties
If you’re looking for uninsurable mortgage rates in Canada and unsure which rates fits your situation, we’ll run the numbers and guide you through your options.