Mortgages for People New to Canada provide assistance to individuals who are unfamiliar with the Canadian real estate market and the associated costs that come with it. This includes helping newcomers understand the closing costs and adjustment costs associated with purchasing a property. By guiding individuals through these processes, we aim to ensure that they are well-informed and prepared for the financial responsibilities that come with owning a home.
One of the main advantages of obtaining a mortgage as a newcomer is the opportunity to build equity instead of paying rent. By investing in a property, individuals can benefit from their employment and credit sources to accumulate long-term wealth. We understand the importance of this aspect and strive to help newcomers make the most of their financial resources by providing them with the best rates and mortgage options available.
For those looking to borrow larger amounts of money (over $1 million), we can assist in finding suitable mortgage options with at least a 20% down payment saved. Additionally, we offer more flexibility on the down payment requirement, allowing individuals to put down as little as 5% of the purchase price. We also take the time to explain the various homebuyer incentive programs and down payment assistance options that are available to newcomers.
Our access to a network of Canada's top lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, allows us to design a custom-tailored product that fits the specific mortgage needs of each individual. This is particularly beneficial for those who may not qualify for a mortgage at a traditional bank due to factors such as limited credit history or employment background.
Furthermore, we provide access to innovative tools in Canada that streamline the first-time home buying experience. These tools are designed to make the process more efficient and user-friendly for newcomers, ensuring a smooth transition into homeownership.