Homebuyer 95 Program

Enables qualified borrowers to become first-time homeowners with as little as a 5% down payment.
Front door and porch of a home

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
Underwriting Policies and Standards thumbnail with Sagen logo

Learn more about this program in the Underwriting Policies & Standards (UPS)

View details