New to Canada Program

Helps individuals who have recently immigrated or relocated to Canada to purchase property with as little as 5% down.
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Help New Canadians Secure a Place to Call Home

The New to Canada Program provides the opportunity for customers who have recently arrived in Canada to buy a home.

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

  • Homebuyer 95 Program
  • Progress Advance Program
  • Purchase Plus Improvements Program


  • Borrowers must not be prohibited from purchasing a property under the "Prohibition on the Purchase of Residential Property by Non-Canadians Act"
  • Borrowers must have a valid work permit or permanent residency
  • Borrowers must have a minimum of 3 months full-time employment in Canada (those transferred under a corporate relocation program are exempt)
Underwriting Policies and Standards thumbnail with Sagen logo

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

View New To Canada Program in UPS

Premium Calculator

The Premium Calculator helps you calculate the mortgage insurance premium on any Sagen™ products.

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