Low Down Payment Options


95% LTV and Less

The Downpayment Advantage program is designed for borrowers who can make a down payment of at least 5% toward the purchase of a home.



Transaction Types

  • Purchase transactions.
  • Purchase Advantage Plus™ eligible.
  • Portable eligible.



  • Maximum 25 years.


Loan-to-Value Criteria

  • 95% for Purchase: 1-2 units
    • Purchase Price ≤ $500,000: Minimum 5% down payment required.
    • Purchase Price > $500,000 and < $1,000,000: Minimum 5% down payment required on the first $500,000 of the purchase price, plus an additional 10% down payment required on the portion of the purchase price above $500,000.]
  • 90% for Purchase: 3-4 units
  • NOTE: Maximum LTV is subject to adjustments based on local housing market conditions.


    Interest Rate Types

    • Fixed, standard variable, capped variable and adjustable rate mortgages permitted.
    • Borrower(s) must qualify at an interest rate that is the greater of the contract mortgage rate or the five-year benchmark rate.


    Property Types

    • Maximum property value must be less than $1,000,000.
    • Maximum 4 units, with 1 unit owner-occupied.
    • Resale or new construction (single advance).


    Borrower Qualifications

    • Down payment must be from borrower’s own resources or gifted from an immediate family member.
    • Standard underwriting guidelines apply.
    • Maximum debt service ratios: GDS 39% / TDS 44%


    Documentation Requirements

    • Standard documentation.



    Applicable Premiums

    Loan-to-Value Ratio Single Premium Top-Up Premium
    ≤ 65%0.60%0.60%
    NOTE: Mortgage Insurance premiums are non-refundable.


    Last Updated: 03/17/2017

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