Qualified homebuyers that have immigrated or relocated to Canada within the past five years meet the criteria under Genworth Canada’s not used to Canada system to shop for a property with as low as a 5% advance payment.
Find out about the brand new To Canada Program with your helpful guide.
Appropriate Loan Purpose and Applicable Loan-to-Value Limits
- 95% LTV
- Home value = $500,000 – 5% advance payment needed
- Home value > $500,000 and *For brand new construction properties into the regions (Yukon, Northwest and Nunavut Territories) where new house Warranty is certainly not an option, Lenders must obtain either the occupancy license or perhaps a third-party report from an experienced professional such as for instance: an inspector, designer or engineer.