Mortgages for People New to Canada are designed to assist newcomers in understanding the Canadian real estate market and associated costs. This includes providing information on closing costs and adjustment costs, which can often be confusing for those who are unfamiliar with the process. By offering this guidance, we aim to help newcomers make informed decisions about their real estate investments.

One of the main benefits of obtaining a mortgage as a newcomer is the opportunity to build equity instead of paying rent. By becoming a homeowner, individuals can take advantage of employment and credit sources, allowing them to establish a strong financial foundation in Canada. This can be particularly advantageous for those who plan to settle down permanently in the country.

For newcomers looking to purchase properties with higher loan amounts, such as those over $1 million, we can help find the best rates and mortgage options. It is important to note that a down payment of at least 20% will need to be saved in these cases. However, we also offer more flexibility on down payment requirements, allowing for as little as 5% down in some situations. We will also provide information on homebuyer incentive programs and down payment assistance options that may be available to help newcomers achieve their homeownership goals.

Our access to all of Canada's top lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, allows us to design a custom-tailored mortgage product that fits the specific needs of each newcomer. This means that even if individuals do not qualify for a mortgage at their own bank due to limited credit and employment history, we can still secure a mortgage at the best rate possible.

In addition to this, we also offer access to innovative tools in Canada that facilitate an efficient first-time home buying experience. These tools can help newcomers navigate through the complex process of purchasing a property and provide them with the necessary information to make confident decisions.

Overall, our Mortgages for People New to Canada program aims to provide newcomers with the necessary support and resources to make their journey into Canadian homeownership a smooth and successful one. By offering guidance, access to lenders, and innovative tools, we strive to make the dream of owning a home in Canada a reality for all newcomers.