Mortgages for newcomers in Canada aim to provide assistance in understanding the Canadian real estate market and associated costs, such as closing costs and adjustment costs. They encourage newcomers to build equity instead of paying rent, as they can benefit from employment and credit sources. These mortgages also help newcomers find the best rates and mortgage options, especially for loan amounts over $1 million with a minimum 20% down payment, or even with as little as 5% down for increased flexibility. Homebuyer incentive programs and down payment assistance options are explained to newcomers, and they have access to a wide range of lenders including large banks, mortgage finance companies, credit unions, and alternative financiers. Additionally, innovative tools are provided to ensure an efficient first-time home buying experience.