High-Value and Luxury Home Mortgages in Canada (2026)

Financing a luxury or high-value home isn't just a bigger version of a regular mortgage — past certain price points the rules change. Mortgage insurance disappears, down payments rise, and lenders scrutinize income and assets far more closely. Here's how high-value home mortgages work in Canada.

The short answer

Homes priced over $1.5 million can't be insured, so they require at least 20% down — and at higher price points lenders often want 25–35%+. Because these mortgages are uninsured, lenders apply deeper income, asset, and credit scrutiny, and self-employed or complex-income buyers may need specialized structuring. See high-value mortgage options.

The $1.5 million line

Mortgage default insurance (CMHC and the private insurers) is only available on homes priced up to $1.5 million. Above that:

• No insurance is available — so the minimum down payment is 20%.
• Larger down payments are common — many lenders want 25–35%+ as the price climbs.
• The mortgage is "uninsured," which changes how lenders price and assess it. See how CMHC insurance works and down payment rules.

Deeper scrutiny on big mortgages

Because there's no insurer backstop and the loan is large, lenders look harder at:

• Income quality and stability — especially for business owners, bonus/commission earners, and investors (see self-employed mortgages).
• Assets and net worth — liquidity and overall financial strength.
• Debt-service ratios and the stress test applied to a large payment (the stress test).
• The property — unique luxury homes can be harder to appraise and to resell, which lenders weigh.

Complex income and structuring

High-value buyers often have non-salary income — businesses, investments, foreign income, or significant assets with modest reported income. This is where a broker earns their keep: matching you to lenders comfortable with your income profile, sometimes blending prime, alternative, and even private solutions, or using stated-income structures. The goal is the best rate your full financial picture supports, not just what a single bank's checklist allows.

Tips for high-value financing

• Get pre-approved early and document your income and assets thoroughly.
• Expect appraisal focus — unique properties may need extra valuation work.
• Consider your down payment mix — savings, investments, or equity from another property via refinance.
• Work with a broker who places high-value deals and knows which lenders want them.

Frequently asked questions

How much down payment do I need for a home over $1.5 million?

At least 20%, because homes over $1.5M can't be insured — and many lenders want 25–35%+ as the price rises.

Why can't I get mortgage insurance on a luxury home?

Mortgage default insurance is only available on homes priced up to $1.5 million, so higher-value purchases are uninsured and require at least 20% down.

Are high-value mortgage rates higher?

Not necessarily — strong applicants get competitive rates. But uninsured mortgages are assessed differently, and complex income may require specialized lenders or structuring.

Can self-employed buyers get high-value mortgages?

Yes, though it often requires careful documentation and the right lender. Brokers structure these using prime, alternative, stated-income, or private solutions to fit your income profile.

Financing a high-value home? Talk to us — we structure large, uninsured, and complex-income mortgages across our lender network. See high-value options.