Mortgages for newcomers to Canada aim to assist individuals in understanding the Canadian real estate market, including associated costs such as closing costs and adjustment costs. This allows newcomers to build equity instead of renting, utilizing their employment and credit sources. These mortgage options cater to those looking for higher loan amounts, requiring a minimum down payment of 20%. However, there is also flexibility for those with a down payment as low as 5%. Additionally, homebuyer incentive programs and down payment assistance options are explained to help newcomers navigate the process. With access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, tailored mortgage products can be created to meet individual needs. This includes securing the best rate, even for those who may face obstacles at their bank due to limited credit and employment history. To further facilitate the home buying experience, innovative tools are available for a smooth process for first-time buyers.