Portability Program

Portable Advantage™

Canada Guaranty helps reduce the cost of purchasing a home on eligible transactions by allowing homeowners to “port” their mortgage default insurance premiums.

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Portability Options

Straight Port:

Funds: No new funds required.
LTV: Cannot exceed the LTV of the original loan.
Amortization: Amortization cannot exceed the remaining amortization on the original loan.
Required Documentation: Standard documentation required.
Insurance Premium: No new premiums required.

Port with Increase:

Funds: New funds required.
95% for Purchase: 1-2 units
- Purchase Price ≤ $500,000: Minimum 5% down payment required.
- Purchase Price > $500,000: 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% LTV: 3-4 Units
Amortization: Maximum amortization will be the greater of the blended or the lapsed-time amortization calculations.
Required Documentation: Standard documentation required.
Insurance Premium: Based on the lesser of the single premium on the total loan amount or the top-up premium on the new funds.

Transaction Types

Purchase transactions.
Refinance to add secondary suites.

Property Types

Maximum property value must be less than:
- $1,000,000 if LTV < 80%; or
- $1,500,000 if LTV > 80%.
Maximum 4 units, with 1 unit owner-occupied.
Resale or new construction (single advance).

Borrower Qualifications

Original mortgage must have been insured by Canada Guaranty.
Borrower requalification required for all portability options.
Canada Guaranty standard guidelines apply.
Existing mortgage is under satisfactory repayment for the past 6 months.
Where more than one borrower is involved, at least one of the borrowers must have been identified on the original application as a mortgagor and must remain on title.

Amortization Calculations

Blended Amortization Calculation:
[O/S Balance x Remaining Amortization] + [New Funds x New Amortization]
Total Funds Requested
Lapsed-time Amortization Calculation:
[Amortization on New Mortgage] – [Lapsed Time on Original Mortgage]

Borrower Loyalty Credit

Existing Canada Guaranty-insured borrowers will be eligible for a premium credit applied to the premium paid on the original Canada Guaranty-insured loan within 24 months.

Time from Original Closing Date & Percentage Credit of Original Premium Paid:

Within 6 months: 100%
Within 12 months: 50%
Within 24 months: 25%

Conditions:

Port for Purchase transactions only.
Full premium must have been paid on the original Canada Guaranty-insured mortgage.
Loyalty credit deducted from the full premium on the new mortgage request.

NOTE: All Canada Guaranty mortgages continue to be portable beyond the 24-month term of the Borrower Loyalty Credit.

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%
Flex 95 Advantage™	4.50%	6.60%

NOTE: Mortgage insurance premiums are non-refundable.