Today's Prime Rate: 2.75%
3 Year VRM: Prime - .70%
5 Year VRM: Prime - .65%
Open Variable: Prime + .80%
Chartered Bench Rate: 5.39%
TermOur Rate
6 Month Closed4.65%
1 Year Closed2.54%
2 Year Closed3.30%
3 Year Closed3.50%
4 Year Closed3.89%
5 Year Closed3.64%
6 Year Closed4.85%
7 Year Closed5.15%
10 Year Closed5.49%





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Calgary, Alberta
Partial Coverage Program

At Genworth, they strive to offer innovative products to meet our lenders' diverse needs. This new partial coverage program provides 60% coverage. If the borrower defaults, losses are shared between the lender and Genworth. In Quebec, this program is currently offered only to the Caisses Populaires Desjardins.


Acceptable loan purpose

  • Purchase, Purchase Plus Improvements

  • Progress Advance

  • Refinance


Loan-to-value ratio limits

For this program, the maximum LTV is 90%

Eligible Properties

  • Maximum 4 units where at least 1 unit must be occupied as the principal residence

  • New construction and existing properties


Premium Rates

Partial coverage premium rates

Full coverage

Partial coverage

LTV ratios

Total amount

Top-up portion

Total amount

Top-up portion

Up to 65%

0.50%

0.50%

65.01% - 75%

0.65%

2.25%

75.01% - 80%

1.00%

2.75%

0.70%

1.65%

80.01% - 85%

1.75%

3.50%

1.05%

2.00%

85.01% - 90%

2.00%

4.25%

1.20%

2.50%

Premium is non-refundable.

Underwriting guidelines

  • Standard underwriting guidelines apply


Amortization Options

  • Up to 25 years


Terms/qualifying interest rates

  • Six months up to 25 years

  • For terms less than three years, the qualifying interest rate is the greater of three-year posted rate or contract rate

  • For terms of three years or more, we use the contract rate


Ineligible Products

  • Alt A

  • Cashback Equity

  • New To Canada

  • Vacation Homes (Type B)


The insurance premium is payable once at the time of closing (except for Progress Advances where the premium is paid in installments during the construction phase with a final installment paid when the home is completed). The insurance premium is not refundable and may be added onto the mortgage or paid in cash.