Mortgages for newcomers in Canada aim to educate them about the real estate market and associated costs, such as closing and adjustment costs. These mortgages encourage the building of equity instead of paying rent by leveraging employment and credit sources. For those seeking higher loan amounts (over $1 million), there are options available with a minimum down payment of 20%, or even as low as 5% for more flexibility. Additionally, homebuyer incentive programs and down payment assistance options will be explained. The access to a wide range of lenders, including banks, mortgage finance companies, credit unions, and alternative financiers, allows for customized mortgage solutions even for those with limited credit and employment history. Furthermore, there are innovative tools available in Canada to facilitate a smooth and efficient first-time home buying experience.