Canada Guaranty

Products at a Glance

Downpayment Advantage™ (95% LTV and Less)

• Purchase: Max. 95% LTV for 1 to 2 units, 1 unit owner-occupied
• Purchase: Max. 90% LTV for 3 to 4 units, 1 unit owner-occupied
• Purchase, Purchase Advantage Plus™, Resale or New Construction (single advance)
• Up to and including 679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• Down payment from own resources or gifted from an immediate family member

Flex 95 Advantage™

• Max. 95% LTV
• Purchase, Purchase Advantage Plus™, Resale or New Construction (single advance)
• 650–679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• Max. 2 units, 1 unit owner-occupied
• Down payment options include: lender cash backs, borrowed down payment from arm’s length source, gifts or grants from arm’s length 3rd party

Purchase Advantage Plus™

• Max. 95% LTV 1 to 2 units, 1 unit owner-occupied
• Max. 90% LTV 3 to 4 units, 1 unit owner-occupied
• Credit score and GDS/TDS requirements are based on LTV and product selected
• Gifted down payments from immediate family members are eligible
• Full appraisal required if value of improvements exceeds 20% of “as is” value or $40,000
• Borrower to supply lender with written quotes
• Lender to manage holdbacks and confirm improvements are completed

Lifestyle Advantage™ (Second Homes)

• Purchase: Max. 95% LTV
• Refinance: Max. 85% LTV
• Min. 650 credit score for 95% LTV
• Purchase, Purchase Advantage Plus™, Refinance, Resale or New Construction (single advance)
• Up to and including 679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• Max. 2 units, for secondary occupancy, with 1 unit owner-occupied

Refinance Advantage™

• Max. 85% LTV
• $200,000 maximum equity take-out
• Max. 4 units, 1 unit owner-occupied
• Up to and including 679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• Not for default management purposes

Progress Draw Advantage™ (Lender Managed)

• Purchase: Max. 95% LTV 1 to 2 units, 1 unit owner-occupied
• Purchase: Max. 90% LTV 3 to 4 units, 1 unit owner-occupied
• Refinance: Max. 85% LTV 1 to 4 units, 1 unit owner-occupied
• Up to and including 679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• Down payment from own resources or gifted from an immediate family member
• Title to land in borrower’s name on, or before, closing
• Lender to manage holdbacks and order appraisals and inspections
• Builder loans are not eligible

Rental Advantage™

• Purchase and Refinance: Max. 80% LTV
• Max. 4 units
• TDS 40%
• Rental income confirmed with recent T1 Generals
• Please refer to product sheet when rental income cannot be confirmed with recent T1 Generals
• Down payment from own resources

Low Doc Advantage™ (Self-Employed)

• Purchase: Max. 90% LTV: 700+ credit score
• Purchase: Max. 85% LTV: 650-699 credit score
• Refinance: Max. 85% LTV: 650+ credit score
• Up to and including 679 credit score: GDS 35%; TDS 42%
• 680+ credit score: TDS 44%
• $150,000 equity removal for debt consolidation or $200,000 for asset enhancement
• Max. 2 units, 1 unit owner-occupied
• 2 yrs self-employed
• Stated income with attestation or a signed mortgage application
• Lender to confirm no tax arrears (please refer to product sheet for details)
• Commission sales income is not eligible
• Maximum Loan Amount for Greater Calgary, Vancouver and Toronto Areas is $750,000. For all other locations, a maximum loan amount of $600,000 is applicable.
• Exceptions to be reviewed on a case-by-case basis

Portable Advantage™

• Max. 95% LTV 1 to 2 units
• Max. 90% LTV 3 to 4 units
• Max. 4 units, 1 unit owner-occupied (please refer to product sheet for details)
• Purchase, Resale or New Construction (single advance)
• Straight Port: No changes (LTV/amort./$) no new premium
• Port with Increase: Increase LTV/amort./$ , premiums based on the lesser of single premium on the total loan amount or the top-up portion
• Port with Increase: Borrower eligible for the Borrower Loyalty Credit
• Original mortgage must be in good standing and insured by Canada Guaranty

Maple Leaf Advantage™

• Alternate forms of credit confirmation acceptable
• Max. 95% LTV: Two forms of alternate credit confirmation permitted
• Purchase, Purchase Advantage Plus™, Resale or New Construction (single advance)
• Must have immigrated to Canada within the past 3 years
• Landed immigrant status or valid permanent resident card required
• Up to and including 90% LTV: GDS 35%; TDS 42%
• 90.01–95% LTV: GDS 35%; TDS 40%
• Max. 2 units, 1 unit owner-occupied
• Down payment from own resources

Product Features

• All products are eligible for portability
• All products are eligible for 30 year amortization

NOTE:Maximum LTV is subject to adjustments based on local housing market conditions.

Disclaimer:Product guidelines are subject to change without notice. Information in this document represents a brief summary of products only. Please refer to official Product Highlights sheets and underwriting guidelines for additional details.