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.

Advisory: Fort McMurray

Genworth Canada expresses concern for the residents of Fort McMurray, Alberta and is working with our customers to provide assistance to Genworth-insured homeowners impacted by the current wildfires.

Learn More