For mortgages where the borrower has at least 25% to put down, lenders are more lenient on the amount you can borrow since they are not governed by CMHC/GE Mortgage guidelines.

If you need to, there are a few ways to stretch those limits.  Here are a few ways.

Rental suite income

Lenders will allow you to add a certain percentage (between 30-70%) rental income to your gross income.  With a higher income, you are qualified to borrow more.  Other lenders will also allow you to offset up to 30% of your rent when they compute mortgage payments.  By offsetting, your net payments (after 30% of rental income) are reduced and the amount you qualify for increases.

Having a co-borrower allows you to significantly increase the amount you can borrow since the lender can use the income of the co-borrower to qualify the purchase.  

Sometimes it is difficult to ask your mom or dad to guaranty your mortgage.  In this case, a few lenders will put in the contract that they will remove the guaranty after a year provided you have met all the payments and meet their underwriting guidelines.

Xceed Mortgage, an affiliate of the Bank of Montreal, has programs that calculate the amount you are allowed to borrow differently.  Instead of using the standard 32% and 42% of gross income, Xceed will allow you to pay up to 50% of your gross income to mortgage payments.  In addition, they also allow you to offset 50% of unauthorized rental suite income against mortgage payments.

For example, an individual earning $42,000 will qualify for $152,000 with a 10% down payment under a CMHC high-ratio mortgage (available through most banks).  With Xceed's 10% down payment, that same individual qualifies for $255,000, assuming the borrower can find a house with a rental suite.  With a 15% down payment, the amount increases to $290,000.  

"My job is done when you know your options"