Homebuyer 95 Program
Enables qualified borrowers to become first-time homeowners with as little as a 5% down payment.
Help Customers Purchase Their First Home
Saving for a down payment on a first home has become increasingly difficult. This program makes it easier by allowing customers to purchase a home with a lower down payment.
Premium Rate:
| LTV Ratio | Premium Rate | Top-Up Premium |
|---|---|---|
| Up to 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% |
Eligible Products
- Progress Advance Program (Maximum 2 units)
- Purchase Plus Improvements Program
- Family Plan Program
- New to Canada Program
- Vacation / Secondary Homes Program (Type A Properties)
- Second Mortgage Program
Eligibility
- Available for 1 and 2 unit properties up to a maximum value of $500,000 with 5% down
- 3 & 4 units up to 90% LTV
- For properties > $500,000 and <$1,000,000 – 5% down payment required up to $500,000, with an additional 10% down payment on the portion of the home value above $500,000
- Available for both existing and new construction homes
Learn more about this program in the Underwriting Policies & Standards (UPS)
View Homebuyer Program in the UPSPremium Calculator
The Premium Calculator helps you calculate the mortgage insurance premium on any Sagen™ products.
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