Uninsured mortgage rates

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Compare uninsured and conventional mortgage rates for 20% down or higher-equity Canadian mortgage scenarios, including flexibility and lender-fit notes.

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Pragmatic rate snapshot

What changes with the mortgage type?

5-year fixed advertised offers available in BC. Compare the lowest APR with the median of each lender’s lowest APR in our catalogue. These are different eligibility categories, before matching your income, property and mortgage amounts.

Current advertised mortgage rate categories, lender coverage and APR distribution
Mortgage type	Lowest APR	Median lender APR	Lenders
Insured purchase	4.34%	4.78%	22
Insurable purchase	4.89%	5.04%	5
Uninsured purchase	4.61%	5.19%	26
Renewal / transfer	4.34%	4.84%	26
Refinance	4.69%	5.20%	21

Sources, conditions and how to use this snapshot

The median gives each lender one observation: its lowest advertised APR in that category. It is not a funded-loan average, a whole-market survey or a personalized quote. Products can differ in LTV, credit, amortization, fees and restrictions. Categories can overlap, especially on renewal. APR uses a lender-supplied figure when available; otherwise it assumes the advertised interest rate. Default-insurance premiums and switching costs still need comparing.

Insured purchase: 25 offers from 22 lenders. Lowest: Beem Credit Union. Beem public featured insured 5-year fixed closed mortgage rate.. Maximum amortization 25 years; LTV 80.01–95%. Source checked 2026-10-27T13:04:19.649Z. Lender source All offers and full conditions
Insurable purchase: 17 offers from 5 lenders. Lowest: Strive Capital. Strive posted standard fixed mortgage rate; Insurable Purchase, Transfer; Up to 65%.. Maximum amortization 25 years; LTV 0–65%. Source checked 2026-10-27T13:05:30.959Z. Lender source All offers and full conditions
Uninsured purchase: 35 offers from 26 lenders. Lowest: ATB Financial. Client Rates · Rate First closed fixed-rate mortgages · 5 years conventional. Owner-occupied purchase or renewal, up to 25-year amortization. Refinance, rental/secondary-home and longer amortization pricing require lender premiums and are excluded. Lender APR examples use a $250,000 mortgage and $250 processing fee.. Maximum amortization 25 years; LTV 0.01–80%. Source checked 2026-10-27T13:04:14.371Z. Lender source All offers and full conditions
Renewal / transfer: 72 offers from 26 lenders. Lowest: Beem Credit Union. Beem public featured insured 5-year fixed closed mortgage rate.. Maximum amortization 25 years; LTV 80.01–95%. Source checked 2026-10-27T13:04:19.649Z. Lender source All offers and full conditions
Refinance: 28 offers from 21 lenders. Lowest: Beem Credit Union. Beem public fixed closed mortgage rate; 5 year; Uninsured – 25 yr.. Maximum amortization 25 years; LTV 0.01–80%. Source checked 2026-10-27T13:04:19.649Z. Lender source All offers and full conditions

Snapshot assembled Oct 27, 2026, 8:37 p.m. Pacific. Each offer keeps its own source-check date and expiry. Assembly does not renew lender evidence.

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Example scenario · make it yours

Buying · $900,000 home · $225,000 down

BC · 5-year term · fixed & variable · 25-year amortization · Live in the home

A starting point

Matching mortgage rates.

74 of 74 matching rates · $675,000 financed · 25-year amortization

Lowest APR first

Neo Financial

5-year variable

Uninsured mortgage

3.60%

APR

$3,416

Estimated / month

Compare

Beem Credit Union

5-year variable

Uninsured mortgage

3.75%

APR

$3,470

Estimated / month

Compare

ATB Financial

5-year variable

Uninsured mortgage

3.82%

APR

Contract rate 3.80%

$3,489

Estimated / month

Compare

Strive Capital

5-year variable

Insurable mortgage criteria apply

3.85%

APR

$3,507

Estimated / month

Compare

Envision Financial

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,507

Estimated / month

Compare

Valley First

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,507

Estimated / month

Compare

Island Savings

5-year variable

Uninsured mortgage

3.87%

APR

Contract rate 3.85%

$3,507

Estimated / month

Compare

Strive Capital

5-year variable

Insurable mortgage criteria apply

3.90%

APR

$3,526

Estimated / month

Compare

Community Savings Credit Union

5-year variable

Uninsured mortgage

3.95%

APR

$3,544

Estimated / month

Compare

Strive Capital

5-year variable

Uninsured mortgage

4.04%

APR

$3,578

Estimated / month

Compare

CoastCapital Savings

5-year variable

Insurable mortgage criteria apply

4.04%

APR

$3,578

Estimated / month

Compare

First National Financial

5-year variable

Uninsured mortgage

4.04%

APR

$3,578

Estimated / month

Compare

Desjardins

5-year variable

Uninsured mortgage

4.10%

APR

$3,600

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.12%

APR

Contract rate 4.10%

$3,600

Estimated / month

Compare

RBC Royal Bank

5-year variable

Uninsured mortgage

4.18%

APR

Contract rate 4.15%

$3,619

Estimated / month

Compare

CoastCapital Savings

5-year variable

Uninsured mortgage

4.19%

APR

$3,634

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.22%

APR

Contract rate 4.20%

$3,638

Estimated / month

Compare

CIBC

5-year variable

Uninsured mortgage

4.22%

APR

Contract rate 4.20%

$3,638

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Insurable mortgage criteria apply

4.25%

APR

$3,657

Estimated / month

Compare

CoastCapital Savings

5-year variable

Uninsured mortgage

4.29%

APR

$3,672

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Insurable mortgage criteria apply

4.30%

APR

$3,676

Estimated / month

Compare

TD Canada Trust

5-year variable

Uninsured mortgage

4.31%

APR

Contract rate 4.29%

$3,672

Estimated / month

Compare

Marathon Mortgage

5-year variable

Uninsured mortgage

4.35%

APR

$3,695

Estimated / month

Compare

Manulife

5-year variable

Uninsured mortgage

4.45%

APR

$3,733

Estimated / month

Compare

B2B Bank

5-year variable

Uninsured mortgage

4.45%

APR

$3,733

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.47%

APR

Contract rate 4.45%

$3,733

Estimated / month

Compare

BMO Bank of Montreal

5-year variable

Uninsured mortgage

4.47%

APR

Contract rate 4.45%

$3,733

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year variable

Uninsured mortgage

4.50%

APR

$3,752

Estimated / month

Compare

ATB Financial

5-year fixed

Uninsured mortgage

4.61%

APR

Contract rate 4.59%

$3,770

Estimated / month

Compare

CMLS Financial

5-year variable

Uninsured mortgage

4.65%

APR

$3,810

Estimated / month

Compare

Beem Credit Union

5-year fixed

Uninsured mortgage

4.69%

APR

$3,808

Estimated / month

Compare

ATB Financial

5-year fixed

Uninsured mortgage

4.71%

APR

Contract rate 4.69%

$3,808

Estimated / month

Compare

Neo Financial

5-year fixed

Uninsured mortgage

4.74%

APR

$3,827

Estimated / month

Compare

Community Savings Credit Union

5-year fixed

Uninsured mortgage

4.74%

APR

$3,827

Estimated / month

Compare

Valley First

5-year fixed

Uninsured mortgage

4.76%

APR

Contract rate 4.74%

$3,827

Estimated / month

Compare

Island Savings

5-year fixed

Uninsured mortgage

4.76%

APR

Contract rate 4.74%

$3,827

Estimated / month

Compare

Envision Financial

5-year fixed

Uninsured mortgage

4.76%

APR

Contract rate 4.74%

$3,827

Estimated / month

Compare

Beem Credit Union

5-year fixed

Uninsured mortgage

4.79%

APR

$3,846

Estimated / month

Compare

Prospera

5-year fixed

Uninsured mortgage

4.84%

APR

$3,865

Estimated / month

Compare

Valley First

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,887

Estimated / month

Compare

Island Savings

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,887

Estimated / month

Compare

Envision Financial

5-year variable

Uninsured mortgage

4.87%

APR

Contract rate 4.85%

$3,887

Estimated / month

Compare

Desjardins

5-year fixed

Uninsured mortgage

4.89%

APR

$3,884

Estimated / month

Compare

Scotiabank

5-year variable

Uninsured mortgage

4.90%

APR

$3,907

Estimated / month

Compare

CoastCapital Savings

5-year fixed

Insurable mortgage criteria apply

5.04%

APR

$3,941

Estimated / month

Compare

Strive Capital

5-year fixed

Insurable mortgage criteria apply

5.04%

APR

$3,941

Estimated / month

Compare

Strive Capital

5-year fixed

Insurable mortgage criteria apply

5.04%

APR

$3,941

Estimated / month

Compare

CMLS Financial

5-year fixed

Uninsured mortgage

5.09%

APR

$3,960

Estimated / month

Compare

BMO Bank of Montreal

5-year fixed

Uninsured mortgage

5.16%

APR

Contract rate 5.14%

$3,980

Estimated / month

Compare

RBC Royal Bank

5-year fixed

Uninsured mortgage

5.17%

APR

Contract rate 5.14%

$3,980

Estimated / month

Compare

National Bank of Canada

5-year fixed

Uninsured mortgage

5.18%

APR

Contract rate 5.14%

$3,980

Estimated / month

Compare

First National Financial

5-year fixed

Uninsured mortgage

5.20%

APR

$4,003

Estimated / month

Compare

Marathon Mortgage

5-year fixed

Uninsured mortgage

5.20%

APR

$4,003

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year fixed

Insurable mortgage criteria apply

5.24%

APR

$4,019

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year fixed

Insurable mortgage criteria apply

5.29%

APR

$4,038

Estimated / month

Compare

WealthONE Bank

5-year variable

Uninsured mortgage

5.30%

APR

$4,065

Estimated / month

Compare

CoastCapital Savings

5-year fixed

Uninsured mortgage

5.34%

APR

$4,057

Estimated / month

Compare

MCAN Home - Precision Prime for Insured

5-year fixed

Uninsured mortgage

5.35%

APR

$4,061

Estimated / month

Compare

CIBC

5-year fixed

Uninsured mortgage

5.36%

APR

Contract rate 5.34%

$4,057

Estimated / month

Compare

Strive Capital

5-year fixed

Uninsured mortgage

5.39%

APR

$4,077

Estimated / month

Compare

TD Canada Trust

5-year fixed

Uninsured mortgage

5.41%

APR

Contract rate 5.39%

$4,077

Estimated / month

Compare

CMLS Financial

5-year fixed

Uninsured mortgage

5.44%

APR

$4,097

Estimated / month

Compare

CoastCapital Savings

5-year fixed

Uninsured mortgage

5.44%

APR

$4,097

Estimated / month

Compare

Manulife

5-year fixed

Uninsured mortgage

5.59%

APR

$4,156

Estimated / month

Compare

WealthONE Bank

5-year fixed

Uninsured mortgage

5.74%

APR

$4,215

Estimated / month

Compare

BMO Bank of Montreal

5-year fixed

Uninsured mortgage

6.01%

APR

Contract rate 5.99%

$4,315

Estimated / month

Compare

BMO Bank of Montreal

5-year fixed

Uninsured mortgage

6.11%

APR

Contract rate 6.09%

$4,355

Estimated / month

Compare

BMO Bank of Montreal

5-year fixed

Uninsured mortgage

6.11%

APR

Contract rate 6.09%

$4,355

Estimated / month

Compare

Scotiabank

5-year fixed

Uninsured mortgage

6.19%

APR

$4,395

Estimated / month

Compare

B2B Bank

5-year fixed

Uninsured mortgage

6.31%

APR

Contract rate 6.29%

$4,436

Estimated / month

Compare

Home Trust

5-year fixed

Uninsured mortgage

6.51%

APR

$4,525

Estimated / month

Compare

CWB Optimum Mortgage (Alternative Lending)

5-year variable

Uninsured mortgage

6.81%

APR

Contract rate 6.45%

$4,537

Estimated / month

Compare

Scotiabank

5-year variable

Uninsured mortgage

7.65%

APR

$5,054

Estimated / month

Compare

TD Canada Trust

5-year variable

Uninsured mortgage

7.77%

APR

Contract rate 7.75%

$5,098

Estimated / month

Compare

Need a hand choosing?

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How your rates stay current

Supported public lender sources are checked once daily at 6 a.m. Vancouver time. Each offer shows when its source was checked. Your matches refresh while this page is open.

Expired promotions and rates without recent verification are removed automatically. A lender’s rate hold is separate from a promotion deadline. Promotional badges identify special rates; broker cashback estimates appear separately.

Choose your property, down payment, province and amortization to see matching products, then compare up to three for payment, interest and balance. Confirm fees, prepayment privileges, penalties and any funding deadline with your broker.

How these estimates work

Monthly payments include principal and interest; no new borrower-paid default-insurance premium is included. HELOC estimates show interest only on the full amount drawn.

Fixed rates use semi-annual compounding; variable rates use monthly compounding. Estimates assume constant rates and no extra payments. Fees, penalties, property tax, home insurance and closing costs are excluded. Confirm the product’s contract and lender APR.

Results are from Pragmatic’s published catalog, sorted by nominal rate; they are not whole-market coverage or an approval. Catalog update dates are shown in each rate’s details.

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We’ll help you weigh the rate, flexibility and costs. Brokerage services are available for BC properties.

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How rates are sourced and compared →

Find rates by lender

Explore each lender’s rate examples, terms and conditions. For a comparison based on your own numbers, use the rate shopper.

All lenders Public rate data Tools for AI assistants

Compare the same balance, term, amortization and insurance category. Displayed rates depend on eligibility and lender approval.

Make a fair comparison

Understand the rate you’re looking at.

An uninsured mortgage is not covered by borrower-paid mortgage default insurance and commonly begins with at least 20% down or equity. It avoids the insurance premium and can support scenarios that insured rules exclude, but its rate may be higher. Compare flexibility, amortization, property eligibility, and total term cost.

Uninsured mortgages avoid insurance premiums but may have slightly higher rates. Compare total cost and flexibility.

Typical equity: At least 20% down or existing equity
Potential advantage: No borrower-paid default-insurance premium
Compare: Rate, amortization, property rules, and flexibility

Why uninsured pricing can differ

Without mortgage default insurance covering lender loss, the lender prices more of the property and borrower risk directly. Loan-to-value, amortization, transaction type, occupancy, property use, and lender funding strategy can all affect the rate bucket.

Some mortgages with 20% or more equity may still be lender-insured or insurable behind the scenes. Ask which pricing category applies rather than assuming every conventional mortgage is identical.

Use the flexibility an uninsured file can provide

An uninsured mortgage may support a longer amortization, higher purchase price, refinance, equity takeout, rental use, or a property excluded from high-ratio insurance. Those features can matter more than a small rate difference.

Compare the uninsured offer with its insured alternative only when both scenarios are genuinely available, then include the premium, cash retained, payment, qualification, and exit plans in the decision.

Before you accept an offer

For 20% down or higher equity positions.
Compare fixed and variable pricing on the same screen.
Save scenarios to plan renewal or refinance strategies.

Clear answers

Before you decide

Do uninsured mortgages have lower total cost?

They avoid insurance premiums, but rates can be higher. Compare full cost over the term.

Is 20% down enough for all lenders?

Generally yes, but some lenders require more for certain property types.

Keep comparing

References

Use the regulator and consumer-agency guidance alongside the written terms of your lender’s offer.

Pragmatic Mortgage Lending · BC

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