Alternative to FHA Loans in Canada

[Chaitan Lakkireddy]

Hi there!. My name is Chaitan and I'm a native of Toronto. I was wondering if there Is something similar to the FHA Loan but for Canada. I know that u can put as low as a 5 percent downpayment in Canada regardless of the type of loan, but I know that you usually get hit with a hefty PMI

Is there a loan similar to the FHA for first time homebuyers where u can put a 3.5 percent downpayment without having to pay such a ridiculous PMI ?