Mortgages for individuals who are new to Canada aim to provide assistance in understanding the Canadian real estate market and the associated costs involved, including the closing costs and adjustment costs. Instead of renting, newcomers have the opportunity to build equity by taking advantage of employment and credit sources. These mortgages also cater to newcomers who are seeking higher loan amounts, with a minimum down payment of 20%. However, there is also flexibility on the down payment, allowing for as little as 5% down. Additionally, homebuyer incentive programs and down payment assistance options will be explained to newcomers. With access to various lenders, such as large banks, mortgage finance companies, credit unions, and alternative financiers, a custom-tailored mortgage product can be designed to fit individual needs, even if they don't qualify at their bank due to limited credit and employment history. Lastly, innovative tools in Canada are available to ensure an efficient first-time home buying experience.