Mortgages for newcomers in Canada are designed to help them understand the real estate market and associated costs, such as closing costs and adjustment costs. By opting for a mortgage instead of renting, newcomers can build equity and take advantage of employment and credit sources. These mortgages also cater to those who require higher loan amounts (over $1 million) and have saved at least a 20% down payment, providing them with more flexibility on their down payment, starting from as low as 5%. Additionally, homebuyer incentive programs and down payment assistance options will be explained to newcomers. With access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, customized mortgage products can be designed to cater to specific needs, even for those who may not qualify at their bank due to limited credit and employment history. Innovative tools are also available to ensure an efficient first-time home buying experience.