Mortgages for newcomers to Canada offer assistance in understanding the Canadian real estate market and associated costs, such as closing and adjustment costs. These mortgages allow individuals to build equity instead of paying rent, taking advantage of employment and credit sources. For newcomers looking for higher loan amounts, there are mortgage options available with at least a 20% down payment saved, as well as more flexibility on down payments with as little as 5% down. Homebuyer incentive programs and down payment assistance options will be explained to potential buyers. Access to a wide range of lenders, including large banks, mortgage finance companies, credit unions, and alternative financiers ensures that a custom-tailored mortgage product can be designed to meet each individual's needs and secure the best interest rate, even for those who may not qualify at their banks due to limited credit and employment history. Additionally, innovative tools in Canada are available to provide a streamlined first-time home buying experience.