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New to Canada
For newcomers to Canada, getting a mortgage involves special programs considering limited credit and employment history, requiring documentation like residency status and employment contracts to secure financing for a home purchase.
Homeownership Opportunities for Newcomers to Canada
As newcomers play a growing role in Canada's future population expansion, mortgage financing options are accessible for individuals with both permanent and non-permanent residence status. The objective is to support newcomers in realizing their dream of owning a home in Canada.
Majority of lenders have established policies to accommodate clients who have immigrated to Canada within the past 60 months and are seeking insured mortgages. The Canada Mortgage and Housing Corporation (CMHC) provides financing solutions for borrowers with both permanent and non-permanent residence status, facilitating newcomers in achieving their aspirations of homeownership in Canada.
What's Next?
Not Sure What You Can Afford?
Download our FREE user-friendly app, allowing you to pre-qualify and assess what you can afford independently. Input your financial details and explore various mortgage scenarios based on your income, expenses, and future goals.
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Ways our app simplifies the home buying process:
Determine your total home ownership costs effortlessly.
Discover the maximum loan amount you qualify for.
Estimate the minimum down payment required.
Compare options side by side for a clearer view.
