Mortgages for Newcomers to Canada

New to Canada? Take the first step to owning a home.

Dream of owning a home in Canada? Our friendly, highly-trained brokers can help you take the first step, by outlining requirements and taking you through the options. And when you're ready, we can complete your mortgage over the phone, online, or at one of our store locations.

We'll deal with the banks and lenders for you, and get you the best rate possible to save you more on your first mortgage in Canada.

All three mortgage default insurance companies (CMHC, Sagen and Canada Guaranty) provide their own New to Canada Program, making insured mortgage financing available to borrowers with permanent and non-permanent residence status.

Features of the Newcomer mortgage programs

  • Newcomers with permanent resident status have access to all CMHC, Sagen and Canada Guaranty Mortgage Loan Insurance products (subject to product-specific eligibility requirements).
  • For permanent residents, where there is limited Canadian credit history and where foreign credit bureaus are not available, alternative sources of payment history may be considered for Loan-to-Value (LTV) ratios up to 95%.
  • Newcomers with non-permanent resident status may have access to insured financing of up to 90% LTV ratio for the purchase of a 1-unit, owner-occupied residential property.
  • No additional fees or premiums as a result of residency status — standard product-specific premiums apply.
  • No minimum period of residency is required.

Benefits of these programs

  • Access to Homeownership. Newcomers with permanent residence status can purchase a home with as little as 5% down payment.
  • Competitive Interest Rates. Access to CMHC insured financing, and as a result, competitive interest rates from many banks in Canada.
  • Availability. Coast-to-coast-to-coast, with no set maximum loan amount.