Mortgages for newcomers in Canada are designed to help them understand the local real estate market and associated costs such as closing costs and adjustment costs. Instead of renting, newcomers can build equity in their homes and benefit from employment and credit sources. These mortgage options offer the best rates and higher loan amounts, with a minimum down payment of 20% for amounts over $1 million. Additionally, down payment assistance options and homebuyer incentive programs are explained to newcomers. With access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, a custom-tailored mortgage product can be designed to meet individual needs and secure the best rate. Innovative tools are also available to ensure a smooth and efficient first-time home buying experience.