Mortgages for newcomers in Canada aim to assist individuals in understanding the Canadian real estate market, including associated costs such as closing and adjustment costs. Instead of paying rent, newcomers can build equity by taking advantage of employment and credit sources. The best rates and mortgage options are available for those looking for higher loan amounts, with a minimum down payment of 20%. However, there is also flexibility for a down payment as low as 5%. Homebuyer incentive programs and down payment assistance options will be explained. Access to various lenders, including banks, mortgage finance companies, credit unions, and alternative financiers, allows for the customization of a mortgage product that suits individual needs. Innovative tools are also available to ensure an efficient first-time home buying experience in Canada.