Newcomers to Canada can benefit from mortgages tailored to their needs, helping them navigate the Canadian real estate market and understand associated costs such as closing costs and adjustment costs. By building equity instead of renting, newcomers can leverage their employment and credit sources to find the best rates and mortgage options, even for higher loan amounts over $1 million with at least a 20% down payment saved. With access to various lenders, including major banks and credit unions, newcomers can explore homebuyer incentive programs and down payment assistance options to make their first-time home buying experience efficient and successful, even if they have limited credit or employment history.