Mortgages for newcomers to Canada aim to assist individuals in understanding the intricacies of Canadian real estate and the associated costs, such as closing and adjustment costs. By opting for a mortgage, newcomers can build equity rather than pay rent, taking advantage of employment and credit sources. These mortgages offer the best rates and options for those seeking higher loan amounts (over $1 million) with a minimum of 20% down payment saved. Additionally, there is more flexibility on the down payment, with the possibility of as little as 5% down. The program also provides crucial information on homebuyer incentive programs and down payment assistance. Through access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, tailored mortgage products can be designed to suit specific needs, even if individuals do not qualify at their current bank for reasons such as limited credit or employment history. Furthermore, innovative tools are available to ensure a streamlined and efficient first-time home buying experience in Canada.