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).
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Down payment from own resources or gifted from a close family member.

Flex 95 Advantage™

• Max. 95% LTV.
• Purchase, Purchase Advantage Plus™, Resale or New Construction (single advance).
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Max. 2 units, 1 unit owner-occupied.
• Strong credit profile required.
• Down payment options include: 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.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Gifted down payment from a close family member is eligible.
• Borrower to supply lender with written quotes.
• Lender to manage holdbacks and confirm improvements are completed.
• Single or multiple advances are permitted and may be managed by Lenders. To be eligible for Canada Guaranty managed draws, the improvement amount should be greater than 10% of the as-improved value.

Lifestyle Advantage™ (Second Homes)

• Purchase: Max. 95% LTV.
• Strong credit profile required.
• Purchase, Purchase Advantage Plus™, Resale or New Construction (single advance).
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Max. 1 unit for secondary occupancy, owner-occupied or occupied by a member of the owner’s immediate family.

Progress Draw Advantage™

• Purchase: Max. 95% LTV 1 to 2 units, 1 unit owner-occupied.
• Purchase: Max. 90% LTV 3 to 4 units, 1 unit owner-occupied.
• Strong credit profile required.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Down payment from own resources or gifted from a close family member.
• Title to land in borrower’s name on, or before, closing.
• Basic Service (lender managed) and Full Service (insurer managed) available.
• Builder loans are not eligible.

Rental Advantage™

• Purchase: Max. 80% LTV.
• Properties with 2-4 units only. Single unit properties ineligible.
• Strong credit profile required.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Max. 50% of gross rental income may be added to the borrower’s gross annual income.
• Down payment from own resources.

Low Doc Advantage™ (Self-Employed)

• Purchase: Max. 90% LTV.
• Strong credit profile required.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Max. 4 units, 1 unit owner-occupied (secondary homes are ineligible).
• 2 years self-employed.
• Borrower’s income must be reasonable for the nature and tenure of the business.
• Minimum 10% down payment, of which 5% must come from borrower’s own resources. Remainder may be gifted from a close family member.
• Lender to confirm no tax arrears (please refer to product sheet for details).
• Commission sales income is not eligible.

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™

• 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.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Minimum 5% down payment from borrower’s own resources or gifted from a close family member or corporate subsidy. No borrowed down payments permitted.
• Alternate forms of credit confirmation acceptable.
• Purchase, Purchase Advantage Plus™, Progress Draw Advantage™, Resale or New Construction.
• Must have immigrated to Canada within the last 5 years.
• Permanent resident/landed immigrant status or a valid work permit required.
• Max. 4 units, 1 unit owner-occupied.
• 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.

Energy-Efficient Advantage Program

• Applicable to all Canada Guaranty mortgage insurance products.
• Purchase: New construction or existing home.
• Purchase Advantage Plus™ eligible.
• Borrowers with mortgage financing currently insured by Canada Guaranty are eligible for a partial premium refund of 25%.
• Request for partial premium refund must be submitted within 24 months of the mortgage closing date.
• All applicable mortgage insurance premiums and fees on the original mortgage must have been received by Canada Guaranty prior to issuing the refund.
• Please refer to Energy-Efficient Advantage Program overview for complete details regarding qualifications and required documentation.

Refinance to Add Secondary Suites

• Refinance: Max. 90% LTV.
• Borrower must already own the property.
• Maximum 4 units at completion of additional units, with 1 unit owner-occupied.
• Newly built unit(s) must be legal, self-contained and comply with zoning and applicable by-laws.
• Maximum property value must be less than $2,000,000.
• Strong credit profile required.
• Maximum debt service ratios: GDS 39% / TDS 44%.
• Lending value is the lesser of as improved value, or as is (current) value plus improvement cost.
• Basic Service (lender managed) and Full Service (insurer managed) available.

Product Features

• All products are eligible for portability.
• All purchase transactions:
  • Maximum 25-year amortization; or
  • Maximum 30-year amortization for owner-occupied homes if LTV > 80% and the borrower is either:  (i) a first-time homebuyer or (ii) purchasing a newly constructed home.
  • Maximum property value must be less than:
    • $1,000,000 if LTV </= 80%; or
    • $1,500,000 if LTV > 80%.

• For products that allow a minimum 5% down payment, the following guidelines apply:
  • 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.

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 sheets and underwriting guidelines for additional details.

Premium Rates at a Glance

NOTE: Mortgage insurance premiums are non-refundable.

Last Updated: 12/2024