Insured mortgages often receive the best headline rates, but premiums add to total cost. Compare rates with full context.
Direct answer
An insured mortgage usually applies to an eligible owner-occupied purchase with less than 20% down. Mortgage default insurance protects the lender, not the borrower, and its premium is normally added to the mortgage. Insured pricing can be lower, but qualification, purchase-price, amortization, and property rules still control eligibility.
The transaction must also fit current insurer rules for purchase price, owner occupancy, amortization, credit, debt service, property type, and down payment source. The lender submits the file to an insurer; the borrower does not choose a lower rate independently of that approval.
Use an insured rate page for an eligible high-ratio purchase, not for a refinance, equity takeout, or a property that falls outside default-insurance rules.
The default-insurance premium is generally added to the mortgage, increasing the starting balance and interest paid. Provincial sales tax on the premium, where applicable, may need to be paid from cash at closing.
A lower insured rate can still be the right result, but compare the full mortgage amount, payment, term interest, cash to close, and future flexibility instead of treating the headline rate as the total cost.
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Live rate snapshot
Showing the first 8 cards from 31 matching rates for Purchase · 5-year fixed · $750,000 · $75,000 down.
Prospera
Insured
3.99%
5-year term
APR
Call for APR
Prospera advertised public mortgage rate; 5-Year Closed - Insured.
Radius Financial
5 year promo at 3.99
3.99%
5-year term
APR
Call for APR
RFA
Front Line Program
3.99%
5-year term
APR
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Beem Credit Union
Insured
4.04%
5-year term
APR
Call for APR
Beem public featured insured 5-year fixed closed mortgage rate.
BlueShore Financial
Insured
4.04%
5-year term
APR
Call for APR
Beem public featured insured 5-year fixed closed mortgage rate.
Envision Financial
Insured
4.04%
5-year term
APR
Call for APR
Beem public featured insured 5-year fixed closed mortgage rate.
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Designed for high-ratio purchases.
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Premium impacts shown alongside rates.
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Reviewed rate context
This page is maintained by Pragmatic Mortgage Lending for Canadian borrowers comparing rate categories, lender fit, and product trade-offs. Rate tables can change without notice, so final advice still depends on the live lender file and approval conditions.
Reviewed by the Pragmatic Mortgage Lending broker team. Updated July 16, 2026.
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Typically no. Insured pricing is for high-ratio mortgages.
