i 95™

Many first-time homebuyers have their mortgage insured by a mortgage insurance company in order to get the home they want. This insurance helps protect the lender if you default on your mortgage.

If you have a down payment of less than 25 per cent of the home's value, you're required to purchase mortgage insurance through your lender. In fact, banks are not legally allowed to lend beyond the conventional amount of 75% without mortgage insurance.

But how does this help you get the home you want with the money you have?

The i 95TM mortgage can mean that the 5% down payment you've saved so carefully can be your entry to home ownership, without having to go through both lender and mortgage insurer approvals.

i 95TM is perfect for first-time homebuyers, but it also makes sense for homeowners who want to refinance or take some equity back out of their home in order to consolidate debt at today's competitive mortgage rates.

Key Features & Benefits:

• Approvals up to 95% of the home's value (plus lender fee)
  
• For purchases, refinances and equity take-out for debt consolidation
  
• 3 and 5-year fixed rate
  
• 60 day rate hold
  
• Minimum $75,000 CDN, maximum $400,000 CDN ($500,000 CDN in certain major centres)
  
• Flexible prepayment options; up to 20% prepayment and 20% increase in payments annually
  
• For owner occupied properties up to a four-plex
  
• An easier way to use your 5% down payment and borrow up to $400,000 CDN

i 95™ gives you options instead of barriers.