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Canada Guaranty is a private mortgage default insurer, one of the three insurers approved to provide mortgage default insurance in Canada alongside CMHC and Sagen.
Like Sagen, Canada Guaranty insures high-ratio mortgages under the same federal framework that applies to every default-insured file in Canada — the $1.5 million insured price cap, GDS/TDS limits, and amortization rules don’t change based on which of the three insurers is on the file.
Lenders decide which insurer to use for a given deal, and a borrower typically won’t notice a practical difference between a Canada Guaranty-insured file and one insured by CMHC or Sagen — the qualifying rules and the published premium range are the same across all three.
Private insurer, same federal rules: GDS 39% / TDS 44%, the $1.5 million price cap (December 15, 2024), and amortization limits apply identically to Canada Guaranty-insured files.
Premiums in the published range: roughly 0.60%–4.00% of the loan amount, depending on loan-to-value.
Used across Canada: mortgage agents, submortgage brokers, mortgage associates, and courtiers hypothécaires all work with Canada Guaranty-insured programs where a lender offers them.
Not a government agency: Canada Guaranty is privately owned, though its insurance is treated identically to CMHC’s for qualifying purposes.
Definitions reflect Canadian federal and provincial rules as of the “Updated” date above. Not advice for any specific file.
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