Mortgages for newcomers in Canada are available to help them navigate the real estate market and understand the associated costs. These mortgages allow individuals to build equity instead of paying rent, benefiting from their employment and credit sources. For those looking for larger loan amounts, such as over $1 million, there are options available with a down payment of at least 20%. Additionally, there is flexibility on the down payment, with the possibility of as little as 5% down. Homebuyer incentive programs and down payment assistance options will be explained to newcomers. With access to Canada's top lenders, including banks, mortgage finance companies, credit unions, and alternative financers, custom-tailored mortgage products can be designed to meet individual needs. Innovative tools are also available to ensure an efficient first-time home buying experience.