Purchase transactions:

1 & 2 units: 95% LTV (includes both purchase & improvement amount) 3 & 4 units: 90% LTV ( includes both purchase & improvement amount)

Multiple advances to a maximum of four (excluding initial purchase advance) are permitted. Advances managed by lender or by Genworth Canada if improvements exceed $40,000 or 20% of initial value.

Lending value is based on the lesser of the improved property value or the sum of the purchase price plus direct costs of the improvements.

Maximum 4 units where 1 unit must be owner occupied.

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.

Fixed, standard variable, capped variable and adjustable rate mortgages are permitted

For loans with fixed rate terms greater than or equal to 5 years, the contract rate is used

For loans with fixed or variable rate terms less than 5 years, the qualifying interest rate is the greater of the contract rate or 5-yr benchmark rate

Existing requirements related to income, down payment and credit worthiness apply.

Gifted down payments from immediate family member can be used, provided they are properly verified, non-repayable and all other characteristics of the borrower are acceptable.

Government grants may be considered if pre-approved by Genworth.

For specific qualifications related to 3 & 4 unit properties refer to Homebuyer 95 Product Overview.