Canada Guaranty Mortgage Insurance Benefits

News Releases

UPDATE: Self-employed and Second Home Products Continue to be Supported


We would like to take this opportunity to confirm our continued support of the Low Doc Advantage™ (business-for-self) and Lifestyle Advantage™ (second home) products for qualified applicants with a strong credit profile.  Please note the important update affecting the Lifestyle Advantage product.

Low Doc Advantage | No Change

  • Self-employed borrowers, with a strong credit profile, continue to qualify using non-traditional income verification provided the income is consistent with the borrower’s profession and industry.

Updated Lifestyle Advantage Property Eligibility | Effective May 30, 2014

  • Effective Friday, May 30, 2014, only properties with a maximum of one unit will be eligible under the Lifestyle Advantage product. Previously, two-unit properties were allowed.
  • The property must be owner-occupied or occupied by a member of the owner’s immediate family as defined as a person related to the borrower by marriage, common-law partnership or any legal parent-child relationship.

Should you have any questions, please do not hesitate contact your dedicated Account Executive or speak with a member of our National Underwriting Team at 1.877.244.8422. 

Copyright © 2010 - 2017 Canada Guaranty Mortgage Insurance Company. All Rights Reserved. All mortgage insurance is underwritten by Canada Guaranty Mortgage Insurance Company.

Terms of Use | Privacy Policy | Portfolio Metrics