Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), is the largest private residential mortgage insurer in Canada

The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. For more than two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system.

Many homebuyers do not realize they have a choice when it comes to purchasing mortgage insurance.



Although current pricing and product options are regulated by the Federal Government and therefore consistent among mortgage insurance providers, there are exclusive service offerings provided by Genworth Canada with which home buyers should be aware

These include access to Genworth Canada's Homeowner Assistance Program, which last year alone helped more than 4,600 families stay in their homes during difficult financial times. In fact, since inception of the program in 1995, Genworth Canada, working together with our lender customers, has helped more than 19,000 families avoid losing their homes through workouts and other solutions

Other benefits of a Genworth Canada-insured mortgage include access to our exclusive Homebuyer Privileges program. Available through select lenders and mortgage brokers, this program offers discounts and special offers on home-related products and services through a variety of nationally recognized vendor partners

To find out more about what Genworth Canada has to offer, talk to your lender or mortgage professional

Learn more with these videos or reach out to your mortgage broker

For your reference, here is a quick guide to Genworth's Premium Rates.

Standard Premium Rate Chart Includes the Following Products*
LTV Ratio Premium Rate Top-Up Premium Rate
Up to 65% 0.60% 0.60%
65.01% - 75% 0.75% 2.60%
75.01% - 80% 1.25% 3.15%
80.01% - 85% 1.80% 4.00%
85.01% - 90% 2.40% 4.90%
90.01% - 95% 3.60% 5.65%
  • Homebuyer 95 Program
  • Cash-Out Refinance Program (max. 80% LTV)
  • Borrowed Down Payment Program*
  • Family Plan Program
  • Progress Advance Program
  • New to Canada Program
  • Purchase Plus Improvements Program
  • Vacation/Secondary Home Program (Type A)
    LTV ≤ 80% - A .25% premium surcharge will be applied for every 5 years of amortization beyond the traditional 25-year mortgage amortization period For Borrowed Down Payment Program (LTV 90.01-95%) the standard premium rate is 3.85% and the premium for portability/top-up is 5.65%

Business for Self (Alt-A) Program
LTV Ratio Purchase Premium Rate Refinance Premium Rate Top-up Premium
Up to 65% 0.90% 0.90% 1.75%
65.01% - 75% 1.15% 1.15% 3.00%
75.01% - 80% 1.90% 1.90% 4.45%
80.01% - 85% 3.35% N/A 6.35%
85.01% - 90% 5.45% N/A 8.05%

    LTV ≤ 80% - A .25% premium surcharge will be applied for every 5 years of amortization beyond the traditional 25-year mortgage amortization period

Vacation/Secondary Homes Program (Type B)
LTV Ratio Premium Rate Top-up Premium
Up to 65% 1.45% 1.45%
65.01% - 75% 1.60% 3.45%
75.01% - 80% 2.00% 4.00%
80.01% - 85% 2.90% 4.90%
85.01% - 90% 3.15% 5.75%

Second Mortgage Program
LTV Ratio Recommended Credit Scores Combined 1st & 2nd Loan Amounts 2nd Mortgage Amount
Up to 65% 620 0.60% 0.60%
65.01% - 75% 620 0.75% 2.60%
75.01% - 80% 620 1.25% 3.15%
80.01% - 85% 620 1.80% 4.00%
85.01% - 90% 660 2.40% 4.90%
90.01% - 95% 700 3.60% 5.65%
    LTV ≤ 80% - A .25% premium surcharge will be applied for every 5 years of amortization beyond the traditional 25-year mortgage amortization period The premium payable will be the lesser of the premium as a % of the combined 1st and 2nd mortgage loans, or the top-up premium as a % of the 2nd loan amount only

Investment Property Program
LTV Ratio Premium Rate Top-up Rate
Up to 65% 1.45% 3.15%
65.01% - 75% 2.00% 3.45%
75.01% - 80% 2.90% 4.30%

    LTV ≤ 80% - A .25% premium surcharge will be applied for every 5 years of amortization beyond the traditional 25-year mortgage amortization period

Note: The insurance premium is non-refundable, paid at the time of closing and may be added onto the mortgage. To Calculate the premium, mulitply the mortgage amount by the premium rate.

Protection you should know about

    Homebuyer 95

    The Genworth Canada Homebuyer 95 program offers qualified Canadians an opportunity to own a home with as little as 5%.

    New To Canada

    Now qualified homebuyers who have immigrated or relocated to Canada can qualify for Genworth Canada default mortgage insurance with as little as a 5% down payment.

    Purchase Plus Improvements

    We can help qualified home buyers tailor improvements immediately after taking possession, to make their new home just right for them. All this can be done with one manageable mortgage and 5% down payment.

    Progress Advance

    A program that lets residential home builders and individual borrowers take advantage of insured progress advances during the course of construction. We offer the program for homes purchased from a residential home builder or contractor or self-built properties for owner-occupancy.

    Energy Efficient Housing

    At Genworth Canada, we want to help protect the environment and support consumers as they make environmentally friendly choices. Through our Energy-Efficient Housing Program, home buyers purchasing an energy-efficient home or making energy saving renovations are now eligible for significant premium savings when Genworth Canada insurance is obtained.

    Business For Self

    This program is for self-employed borrowers who cannot provide traditional income verification.

    Portability Feature

    At Genworth Canada, we know that for many Canadian families their first home is not their last home.

    Cash-Out Refinance

    This program helps qualified home buyers take equity out of their home for asset enhancing purposes, investments or significant life cycle events.

    Second Mortgage

    Genworth Canada will now be providing mortgage insurance up to 95% LTV for purchase and 80% LTV for refinance, allowing second mortgages to be registered against the property to qualified homebuyers.

    Borrowed Down Payment

    A program for home buyers who have established an excellent credit history but have not yet saved the required down payment or have chosen to use their savings to build assets in different ways.

    Self-Directed RRSP

    Canadian tax regulations allow self-directed Registered Retirement Savings Plans (RRSP)/ Registered Retirement Income Funds (RRIF) to be used for a non-arms length mortgage investment, provided that the mortgage is insured. We are delighted to offer this program to meet this opportunity.

    Vacation/Secondary Homes

    Whether it's a second home in the city to reduce that weekly commute or a cottage at the lake for weekend getaways, you can buy that property with a small down payment.

    Family Plan

    Mortgage default insurance for buyers who are purchasing properties for immediate family members to live in with as little as a 5% down payment. (For example, buying a home for a child to live in while at a post secondary institution, or a home for parents to live in.)

    Investment Property

    Genworth Canada will now be providing mortgage insurance on a rental program accessible to qualified borrowers with 20% down payment.

George Macris George Macris


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