It was first introduced in 2016 and applied to those seeking qualification for high - ratio, insured mortgages (mortgages with down payments of less than 20 per cent). (homeownership.ca)
Yes, you can qualify for a conventional mortgage with a down payment as small as 3 percent of the purchase price. (usmi.org)
Eligible members benefit from a 30 - year fixed rate mortgage with a Down Payment Assistance loan of up to 3 % of the purchase price or $ 12,000, whichever is less. (northshoremahomeprograms.com)