Mortgages for People New to Canada are designed to assist newcomers in understanding the Canadian real estate market and the associated costs involved. This includes providing information on closing costs and adjustment costs, enabling them to make informed decisions about purchasing a property. By building equity through buying a home rather than paying rent, newcomers can benefit from employment and credit sources.
For those looking for higher loan amounts, typically over $1 million, with a minimum of 20% down payment saved, there are options available that offer more flexibility on down payment requirements. In some cases, it may be possible to purchase a property with as little as 5% down payment. We can guide newcomers through the process of finding the best rates and mortgage options that suit their specific needs.
Additionally, we provide detailed explanations of homebuyer incentive programs and down payment assistance options. These programs can help newcomers overcome financial barriers and make homeownership more accessible.
As mortgage brokers, we have access to a wide range of lenders in Canada. This includes large banks, mortgage finance companies, credit unions, and alternative financiers. By having access to all these options, we can design a custom-tailored mortgage product that fits the individual needs of newcomers. Even if they don't qualify for a mortgage at their bank due to limited credit or employment history, we can still secure the best rate for them.
To ensure an efficient and smooth first-time home buying experience, we provide access to innovative tools available in Canada. These tools can help newcomers navigate the complexities of the real estate market, making the process more streamlined and straightforward.
Overall, Mortgages for People New to Canada aim to provide newcomers with the necessary support and guidance to make homeownership a reality. From understanding costs to finding the best mortgage options, we strive to empower newcomers with the knowledge and resources they need for a successful home purchase.