Mortgages for People New to Canada aim to assist newcomers by providing them with an understanding of Canadian real estate and the associated costs, such as closing costs and adjustment costs. The program emphasizes the importance of building equity instead of paying rent, allowing newcomers to benefit from employment and credit sources. Moreover, the program helps newcomers find the best rates and mortgage options, particularly for higher loan amounts over $1 million. It offers flexibility on down payments, requiring as little as 5% down, and provides information on homebuyer incentive programs and down payment assistance options. Additionally, the program grants access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, allowing for personalized mortgage products that fit the individuals' needs, even if they do not qualify at their bank due to limited credit and employment history. Lastly, the program provides innovative tools to ensure an efficient first-time home buying experience in Canada.