New to Canada

The New To Canada Mortgage Insurance Program makes it possible for individuals relocating to Canada to purchase a home sooner with as little as 5% down. Through this program, Genworth helps new Canadians purchase their first home, build equity, and become economically established in Canada.

Highlights:
• Up to 95% LTV for qualified borrowers
• No minimum income requirements
• Increased qualification options
• Available up to 36 months after arrival
• Standard Premiums apply
• Extended amortizations available up to 40 years

Newcomers (permanent residents) to Canada with proveable income (employed or self employed for 2 years with 3rd party validation) can purchase a home with up to 1-2 units with traditional and non traditional down payment and limited Canadian credit history with 5% down or 10% down for 3-4 units. Newcomers (permanent residents) with proveable income (employed or self employed for 2 years with 3rd party validation) can purchase a home with up to 1-2 units with traditional and non traditional down payment and limited Canadian credit history with 5% down. up to 90% for 3-4 units and traditional down payment. 3-4 unit properties are not available to Newcomers with non traditional down payments or with self employed income without 3rd party validation.

Non-permanent residents are limited to a 1 unit owner-occupied property and a maximum LTV of 90%. Borrowers without third party validation of income are not eligible.