New to Canada
New to Canada Mortgage Program
The New to Canada Mortgage Program is designed for newcomers to Canada who want to buy a home but may not yet have a Canadian credit history. It helps new immigrants and temporary residents get approved for a mortgage more easily.
Key Features
- Credit Flexibility: Lenders consider international credit history, employment history, and other financial factors instead of only Canadian credit.
- Down Payment: Some lenders allow as little as 5% down for eligible borrowers.
- Income Verification: Lenders may accept foreign income documents, employment letters, or contracts to prove you can afford the mortgage.
- Permanent Residents and Citizens: Most programs are open to permanent residents, Canadian citizens, and sometimes those on work permits or other temporary statuses.
