Mortgages for newcomers to Canada provide assistance in understanding the Canadian real estate market and associated costs, such as closing costs and adjustment costs. Instead of renting, newcomers are encouraged to build equity by taking advantage of employment and credit sources. These individuals can find the best rates and mortgage options, even for higher loan amounts over $1 million, with a minimum 20% down payment or the option for as little as 5% down. Homebuyer incentive programs and down payment assistance options are also explained to newcomers. With access to various lenders, including banks, mortgage finance companies, credit unions, and alternative financers, custom-tailored mortgage products can be designed to meet each individual's needs. Innovative tools in Canada are available to ensure an efficient first-time home buying experience.