We are pleased to have introduced this program to Canada. It enables people to help buy a home for immediate family members who have good credit but lack the income to meet standard GDSR/TDSR requirements.

Note: To ensure eligibility for this program, please refer to the corresponding lender updates below addressing recent changes to the mortgage insurance guidelines:

Loans > 80% LTV - Subject: High-Ratio Mortgage Insurance Changes

Loans ≤ 80% LTV - Subject: Low-Ratio Mortgage Insurance Changes

Suggested applications of the program include:

  • A parent who wishes to help an adult entrepreneurial child buy a home
  • A parent helping to buy a home for an adult child at a post-secondary educational facility
  • An adult helping to buy a home for elderly parents who are on a fixed income
  • This program does not include the purchase of non-owner occupied investment properties nor purchases for family members with poor credit

Acceptable Loan Purpose & Applicable Loan-to-Value Limits:

  • Purchase transactions: 95% LTV
    • Property value ≤ $500,000 - 5% down payment required
    • Property value > $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

Loan Security:

  • First mortgages

Eligible Properties:

  • Maximum 2 units where 1 unit must be occupied by an immediate family member
  • New construction covered by a lender approved New Home Warranty Program
  • Existing resale properties
  • Readily marketable residential dwellings, located in markets with demonstrated ongoing re-sale demand
  • Estimated remaining economic life of the property should be a minimum of 25 years

Maximum Property Value:

  • Property value must be less than $1,000,000

Qualifying Terms and Interest Rates:

  • Fixed, standard variable, capped variable and adjustable rate mortgages are permitted
  • Maximum interest rate term of 25 years
  • The qualifying interest rate is the greater of the contract rate or 5-year benchmark rate

Amortization Options:

  • Up to 25 years

Premium Rates:

The premium payable will be the lesser of the premium as a % of the total new loan amount or the premium as a % of the top-up portion on the additional loan amount (if existing insured) based on the rates below:

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%

Note: The insurance premium is non-refundable, paid at the time of closing and may be added onto the mortgage

Borrower Qualification:

Income & Employment

  • Standard income and employment verification requirements apply


  • >80% LTV: At least one applicant is required to have a minimum credit bureau score of 600
  • ≤ 80% LTV: At least one applicant should have a minimum recommended credit bureau score of 680

Down Payment

  • Must be from own resources and may include personal savings, RRSP withdrawal, existing home equity, proceeds from sale of property.

Additional Criteria

  • Applicant(s) buying the home for a family member must have clean credit, stable employment and income, positive net worth
  • An immediate family member is defined as a father, mother, child, brother, sister, grandparent, legal guardian, or legal dependent
  • All qualifying applicants, including the resident family member, must be on the title
  • The income and debts, including shelter costs, of all persons on the application will be used along with those of the occupying borrower to calculate the TDSR

Debt Service Ratios:

  • GDS 39% / TDS 44%

Documentation Requirements:

  • Standard documentation requirements apply
  • Genworth may request that the lender provide a copy of the required documentation on a case-by-case basis


  • Our mortgage default insurance is portable, so home buyers can take advantage of a lender's portability plan. For further details, refer to Portability Feature Product Overview.

Assumptions / Assignments:

  • Mortgage is assumable subject to meeting lender guidelines.

Eligible Products*:

  • Homebuyer 95 Program
  • Purchase Plus Improvements Program

* For specific underwriting guidelines related to the above eligible products, please refer to the applicable product overview

Ineligible Products:

  • Business For Self (Alt.A) Program
  • Borrowed Down Payment Program
  • New To Canada Program
  • Progress Advance Program
  • Vacation/Secondary Homes Program
  • Investment Property Program
  • Second Mortgage Program