Mortgages for People New to Canada are designed to assist newcomers in understanding the Canadian real estate market and its associated costs. This includes providing information about closing costs and adjustment costs. By opting for a mortgage, newcomers can build equity instead of paying rent and can benefit from employment and credit sources. Furthermore, these mortgages aim to find the best rates and options for newcomers seeking higher loan amounts with a down payment of at least 20% saved. Additionally, there is flexibility with the down payment, allowing for as little as 5% down. The program also offers explanations about homebuyer incentive programs and down payment assistance options. With access to a wide range of lenders, including large banks, mortgage finance companies, credit unions, and alternative financiers, a custom-tailored mortgage product can be designed to meet specific needs and lock in the best rate. Even if the individual does not qualify for a mortgage at their bank due to limited credit or employment history, these mortgages offer the opportunity to access innovative tools for an efficient first-time home buying experience in Canada.