Canada Guaranty

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 an immediate 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 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
• 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
• Strong credit profile required
• Maximum debt service ratios: GDS 39% / 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
• 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 40%
• Max. 50% of gross rental income may be added to the borrower’s gross annual income
• Down payment from own resources
• Maximum Loan Amount for Greater Calgary, Vancouver and Toronto Areas is $750,000. For all other locations, a maximum loan amount of $600,000 applies.

Low Doc Advantage™ (Self-Employed)

• Purchase: Max. 90% LTV
• Strong credit profile required
• Maximum debt service ratios: GDS 39% / TDS 44%
• Max. 2 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 an immediate family member.
• Lender to confirm no tax arrears (please refer to product sheet for details)
• Commission sales income is not eligible
• Maximum loan amount for Greater Toronto, Vancouver and Calgary areas is $750,000. For all other locations, a maximum loan amount of $600,000 applies. 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™

• Max. 95% LTV
• Maximum debt service ratios: GDS 39% / TDS 44%
• Minimum 5% down payment from borrower’s own resources. Remainder may be gifted from an immediate family member or from a 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. 2 units, 1 unit owner-occupied

Energy-Efficient Advantage Program

• Applicable to all Canada Guaranty mortgage insurance products
• Purchase: New construction or existing home
• Purchase with improvements for energy-efficiency purposes
• Borrowers with mortgage financing currently insured by Canada Guaranty are eligible for a partial premium refund of up to 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

Product Features

• All products: 
  • Eligible for portability
  • Maximum 25 year amortization
  • Maximum property value must be less than $1,000,000
• 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 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.

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.