Mortgages for newcomers to Canada are designed to assist individuals in understanding the Canadian real estate market and the associated costs that come with purchasing a property. This includes providing information on closing costs and adjustment costs, ensuring that newcomers are well-informed about these additional expenses.

By opting for a mortgage rather than renting a property, newcomers can start building equity. This allows them to benefit from their employment and credit sources, as their mortgage payments contribute towards ownership rather than simply paying rent.

For those looking to secure higher loan amounts, typically over $1 million, there are mortgage options available. It is important to have at least a 20% down payment saved in order to qualify for these options. However, there is also flexibility on down payment requirements, with some programs allowing for a down payment as low as 5%.

In addition to explaining mortgage options, we also provide information on homebuyer incentive programs and down payment assistance options. These programs can help newcomers with limited finances or down payment funds to make homeownership more attainable.

One of the benefits of working with us is that we have access to all of Canada's top lenders, including large banks, mortgage finance companies, credit unions, and alternative financers. This means that even if a newcomer does not qualify for a mortgage at their bank due to reasons such as limited credit or employment history, we can still design a custom-tailored product that fits their specific mortgage needs and locks in the best possible interest rate.

We also utilize innovative tools in Canada to provide newcomers with an efficient and seamless first-time home buying experience. These tools are designed to simplify the process and make it easier for newcomers to navigate the real estate market.

In summary, our goal is to support newcomers in Canada by providing them with the knowledge and resources they need to make informed decisions about purchasing a property. Through our access to a wide range of lenders and our expertise in the mortgage industry, we strive to find the best solutions for each individual's unique circumstances.