Maple Leaf Advantage (New to Canada)

New to Canada

Maple Leaf Advantage™

Canada Guaranty’s Maple Leaf Advantage provides new immigrants, who have limited documented credit history, the opportunity to purchase a home with as little as 5% down.

Download PDF Download PDF

Transaction Types

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


  • Maximum 25 years.

LTV 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

Credit Requirements

  • OPTION 1: International credit bureau.
  • OPTION 2: 12 months rental payment history in Canada, confirmed via letter from the borrower’s landlord and supported by 12 months of bank statements confirming rental payments; AND
  • At least one Canadian utility payment confirmed via letter from the service provider or 12 months of bill statements confirming regular payments.
  • OPTION 3: 12 months verifiable bank statements from a recognized Canadian financial institution or a financial institution from the country of origin confirming satisfactory savings and repayment habits. For 90% LTV or less, 6 months verifiable bank statements may be obtained.
  • OPTION 4: A letter of reference from the borrower’s financial institution from the country of origin confirming a minimum of 6 months satisfactory banking relationship.
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 plus 2%, or 5.25%.

Property Types

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

Borrower Qualifications

  • Must have immigrated to Canada within the last 5 years.
  • Minimum 5% down payment from borrower’s own resources or gifted from a close family member or from a corporate subsidy. No borrowed down payments permitted.
  • Borrower required to have permanent resident status/landed immigrant status, or a valid work permit.
  • No mortgage delinquencies, previous bankruptcies, or foreclosures.
  • All debts held outside of Canada must be included in qualification ratios.
  • Foreign rental income may not be used in qualification ratios.
  • Maximum debt service ratios: GDS 39% / TDS 44%
  • All borrowers must be permitted to purchase residential property in Canada in accordance with the Prohibition on the Purchase of Residential Property by Non-Canadians Act.

Documentation Requirements

  • Standard documentation, which may be subject to review and approval by Canada Guaranty.
  • Confirmation of landed immigrant status, a valid permanent resident card, or a valid work permit.
  • Letter of employment and/or letter of employee relocation, where applicable.


  • Diplomats and other foreign appointed individuals.

Applicable Premiums

Loan-to-Value Ratio Single Premium Top-Up Premium
≤ 65% 0.60% 0.60%
65.01%–75% 1.70% 5.90%
75.01%–80% 2.40% 6.05%
80.01%–85% 2.80% 6.20%
85.01%–90% 3.10% 6.25%
90.01%–95% 4.00% 6.30%

NOTE: Mortgage Insurance premiums are non-refundable.

Last Updated: 02/2024