Mortgages for People New to Canada aim to provide assistance and guidance to newcomers who are interested in understanding the Canadian real estate market and its associated costs. This includes educating them about closing costs and adjustment costs, ensuring they are well-informed about all the financial aspects involved in buying a property.

Another advantage of opting for a mortgage instead of renting is the opportunity to build equity. By investing in a property, newcomers can benefit from their employment and credit sources, ultimately working towards becoming homeowners and reaping the long-term financial benefits associated with owning real estate.

For newcomers who are looking for higher loan amounts, over $1 million, there are mortgage options available. Additionally, these options require a down payment of at least 20% of the loan amount. However, for those who are unable to save such a significant amount, there is more flexibility with a minimum down payment of 5%. Our team can guide newcomers through these options, explaining any homebuyer incentive programs and down payment assistance options available to them.

One of the key advantages of working with Mortgage for People New to Canada is our access to all of Canada's top lenders. This includes large banks, mortgage finance companies, credit unions, and alternative financiers. This wide range of options allows us to design a custom-tailored mortgage product that suits the individual needs of newcomers. We can ensure that even if they do not qualify for a mortgage at their bank due to factors such as limited credit history or employment history, we can still secure the best rate for them.

Furthermore, newcomers can benefit from the innovative tools available in the Canadian real estate market. These tools are designed to streamline the first-time home buying experience, making it more efficient and providing newcomers with the necessary resources and information to make informed decisions.

In summary, Mortgages for People New to Canada provide a comprehensive solution for newcomers who are interested in entering the Canadian real estate market. We offer educational resources, access to a wide range of lenders, and innovative tools to ensure a smooth and efficient home buying experience.