Mortgages for People New to Canada aim to assist newcomers in understanding Canadian real estate, including associated costs such as closing costs and adjustment costs. This program encourages building equity instead of paying rent, allowing newcomers to take advantage of employment and credit sources. It also helps newcomers find the best rates and mortgage options, particularly for higher loan amounts (over $1 million) with at least a 20% down payment saved. Additionally, there is more flexibility on down payment, with the possibility of as little as 5% down. The program provides information on homebuyer incentive programs and down payment assistance options. Access to Canada's top lenders, including banks, mortgage finance companies, credit unions, and alternative financiers, ensures a tailored mortgage product that meets the individual's needs and locks in at the best rate. Innovative tools are also available to ensure an efficient first-time home buying experience in Canada.