Mortgages are available for individuals who are new to Canada and want to understand the process of buying real estate in the country, including the associated costs. By opting for a mortgage, newcomers can build equity instead of paying rent, utilizing their employment and credit sources. Those looking for higher loan amounts (over $1 million) can find the best rates and mortgage options, with the requirement of a minimum down payment of 20% saved. However, there is also flexibility for newcomers with as little as 5% down payment. Additionally, homebuyer incentive programs and down payment assistance options will be explained. Regardless of limited credit and employment history, access to various lenders is provided, ensuring a tailored mortgage product with the best possible rate. Lastly, innovative tools are available to facilitate a smooth first-time home buying experience in Canada.