Mortgages for People New to Canada are designed to help newcomers understand Canadian real estate and the costs associated with it, such as closing costs and adjustment costs. These mortgages encourage newcomers to build equity instead of paying rent, taking advantage of employment and credit sources. They offer the best rates and mortgage options for those looking for higher loan amounts, with at least 20% down payment saved and more flexibility on down payments with as little as 5% down. The program also provides information on homebuyer incentive programs and down payment assistance options. With access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financiers, they can create a custom-tailored mortgage product that fits individual needs and locks in the best rates, even for those with limited credit and employment history. In addition, newcomers can utilize innovative tools in Canada for a smooth first-time home buying experience.