Mortgages for individuals who are new to Canada aim to provide assistance in understanding the Canadian real estate market, as well as the associated costs such as closing and adjustment costs. The goal is to help newcomers build equity instead of paying rent, taking advantage of employment and credit sources. These types of mortgages also cater to those looking for higher loan amounts, with at least a 20% down payment saved, and offer more flexibility on down payment requirements, including as little as 5% down. In addition, homebuyer incentive programs and down payment assistance options will be explained. Access to a wide range of lenders, including banks, mortgage finance companies, credit unions, and alternative financers, ensures the ability to design a custom-tailored mortgage product that matches the individual's needs while securing the best possible interest rate. Innovative tools are also available in Canada to facilitate a smooth and efficient first-time home buying experience.