Vacation/Secondary Homes

Enables customers to purchase a second home with an affordable monthly payment with just 5% down.
The exterior of a vacation home in a forest

Make Your Customers’ Dreams of a Second Property a Reality

This program allows qualified home buyers to purchase their dream cottage, or a property for their immediate family member.

Standard Premium Rate Chart

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 - Vacation A Properties

  • Borrowed Down Payment Program
  • Homebuyer 95 Program (Maximum 1 unit)
  • Progress Advance Program (Residential Home Builder, Contractor and Self-Build Programs)
  • Purchase Plus Improvements Program
  • Second Mortgage Program
  • For Vacation B properties, reference the UPS

Eligibility

  • This program is available for a maximum of 1 unit
Underwriting Policies and Standards thumbnail with Sagen logo

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

View details