If your down payment is less than 20% of the total sale price of the home, it is a federal requirement to have mortgage loan insurance. This is for the protection of the lender in the event of non-payment against the mortgage. CMHC (Canadian Mortgage and Housing Corporation) is one of the most widely known mortgage insuring providers. If your home is worth over $1 million, it cannot be insured, so you’ll not only have to pay at least 20% of the house price in down payment, and pay higher interest rates because the mortgage is uninsured.