New to Canada Program
Helps individuals who have recently immigrated or relocated to Canada to purchase property with as little as 5% down.
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.
|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%|
- 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)