Mortgages for newcomers to Canada aim to help them understand the Canadian real estate market, including the associated costs such as closing costs and adjustment costs. Instead of renting, newcomers are encouraged to build equity by taking advantage of their employment and credit sources. These mortgage options focus on finding the best rates for newcomers who are looking for higher loan amounts, requiring at least 20% down payment saved. However, there is also flexibility with down payments as low as 5%. Furthermore, there are explanations provided on homebuyer incentive programs and down payment assistance options. Through access to various lenders including banks, mortgage finance companies, credit unions, and alternative financers, custom-tailored mortgage products can be designed to fit individual needs, even for those with limited credit and employment history. Additionally, innovative tools are available in Canada to provide newcomers with an efficient first-time home buying experience.