Canada Guaranty Mortgage Insurance Benefits

Archive for June, 2014

The Canada Guaranty Advantage

The Canada Guaranty Advantage
Support from a National Team of Experienced Underwriters

Across the country, Canada Guaranty’s national team of regional Underwriters is proud to offer local market expertise throughout Western Canada, Ontario, Quebec, and Atlantic Canada. With a commitment to delivering service excellence, we continue to grow our team, offer extended hours, and will not rest until each application is reviewed and our promised turn-around-time is met.

Through a dedicated team of regional Account Executives and Underwriters, we remain focused on providing personalized service, flexible solutions and timely responses to your questions. That is why we’ve made it our priority to ensure:

  • Every call to our National Underwriting Centre is answered directly by a decision-maker.
  • We are committed to the goal of meeting our promised turn-around-time on each application submitted.
  • We are available when you need us the most and even later to support you beyond regular business hours.


Toll Free Phone:
Toll Free Fax:
E-mail Address:


Hours of Availability

Monday to Friday

8 a.m. – 10 p.m. (ET)
10 a.m. – 6 p.m. (ET)

“Each member of our experienced team is committed to providing you with the dedicated support you have come to expect from Canada Guaranty. Sound underwriting often means exhausting all possible options before making a decision, while continually seeking the right solutions to ensure your clients find that perfect home and enjoy it for years to come. We look forward to working with you to help your clients achieve their dreams of homeownership, today!”

- Aldo Aragon, Director of Underwriting 
Canada Guaranty Mortgage Insurance Company

Products + Solutions

Products + Solutions
Lifestyle Advantage™ and Low Doc Advantage™ Products Supported    

Canada Guaranty continues to offer the Lifestyle Advantage (Second Home) and Low Doc Advantage (Self-Employed) products for qualified applicants with a strong credit profile. Please click on the above links to view the individual product features and guidelines.

Product Updates:

1. On May 30, 2014, the following updates were made to the property guidelines of the Lifestyle Advantage product: 

  • Only properties with a maximum of one unit are eligible under the Lifestyle Advantage. 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.

2. The Low Doc Advantage guidelines remain unchanged.

| Submitting a Low Doc Advantage™ Application

To help self-employed borrowers, with a strong credit profile, improve their chances of qualifying under the Low Doc Advantage program, please keep the following documentation tips in mind when submitting an application to Canada Guaranty:  

  1. Ensure all current and complete financial and tax documentation is available. This documentation may be requested for review by Canada Guaranty.
  2. When submitting an application, ensure detailed application notes, including business history and financial details, are provided. It may be necessary to discuss your client’s income, expenses, business milestones, etc. The more information gathered about the applicant’s employment status and stability, the better.

Should you have any questions or wish to discuss your client’s unique circumstances, please do not hesitate to contact your dedicated Account Executive or speak directly with a member of our National Underwriting Team at 1.877.244.8422.   

NOTE: The Lender’s internal guidelines always take precedence and must be adhered to prior to review by Canada Guaranty.

Introduction from Andy Charles

Andy CharlesIt has become clear that status quo no longer exists as our industry evolves to further support the sustainability of a strong housing market. This quarter, following significant changes announced by CMHC, the mortgage industry witnessed premium rate increases (effective May 1st) and, for one insurer, the elimination of mortgage insurance coverage for second home mortgages and self-employed borrowers. Canada Guaranty is pleased to confirm our continued support of the second home (Lifestyle Advantage™) and self-employed (Low Doc Advantage™) products. These, along with Canada Guaranty’s full suite of mortgage insurance solutions, can be downloaded from our website.

Canada Guaranty is dedicated to providing our mortgage and lending partners with a diverse range of products to support their clients’ unique needs. Through prudent risk management and sound underwriting practices, executed by a team of experienced Underwriters, we look forward to ensuring that more borrowers find the right solutions to achieve greater access to affordable and sustainable homeownership.

We appreciate your continued support and encourage you to contact a member of our team with any questions.

Andy Charles
President and CEO
Canada Guaranty Mortgage Insurance Company

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