Mortgages for People New to Canada aim to assist newcomers in understanding the Canadian real estate market and associated costs, such as closing costs and adjustment costs. This program encourages these individuals to build equity rather than pay rent, taking advantage of employment and credit sources available to them. It can also help newcomers find the best rates and mortgage options, particularly for higher loan amounts exceeding $1 million, with a required minimum down payment of 20% or even as little as 5% in some cases. Additionally, this program provides guidance on homebuyer incentive programs and down payment assistance options. With access to various Canadian lenders, including banks, mortgage finance companies, credit unions, and alternative financers, a tailor-made mortgage product can be designed to suit specific needs and to secure the best interest rate. Furthermore, this program provides access to innovative tools in Canada for an efficient first-time home buying experience.