Mortgages for People New to Canada is a service designed to assist newcomers in understanding the Canadian real estate market and the associated costs. This includes educating them on closing costs and adjustment costs, helping them build equity instead of paying rent, and guiding them towards employment and credit sources that can benefit them in their home ownership journey.

One of the main focuses of this service is to find the best rates and mortgage options for newcomers who are looking for higher loan amounts, specifically over $1 million. To qualify for these higher loan amounts, newcomers are required to have at least a 20% down payment saved. However, there is also flexibility when it comes to the down payment, allowing for as little as 5% down in certain cases. Homebuyer incentive programs and down payment assistance options will be thoroughly explained to newcomers, ensuring they are aware of all the resources available to them.

Mortgages for People New to Canada has access to all of Canada's top lenders, including large banks, mortgage finance companies, credit unions, and alternative financiers. This wide range of options allows for the creation of custom-tailored mortgage products that cater to the specific needs of each newcomer. Even if a newcomer doesn't qualify for a mortgage at their bank due to limited credit and employment history, Mortgages for People New to Canada can still secure the best rate for them.

To provide an efficient first-time home buying experience, this service offers access to innovative tools in Canada. These tools can greatly simplify the process for newcomers, making it easier for them to navigate the complexities of purchasing their first home in a new country.

Overall, Mortgages for People New to Canada aims to empower newcomers by providing them with the knowledge, resources, and support they need to successfully enter the Canadian real estate market and achieve their home ownership dreams.