Mortgages for people who are new to Canada aim to assist in their understanding of Canadian real estate and associated costs such as closing and adjustment costs. The goal is to help them build equity instead of paying rent by utilizing their employment and credit sources. Newcomers looking for higher loan amounts over $1 million can find the best rates and mortgage options, with the flexibility of a down payment as low as 5% or as high as 20%. This includes explanations of homebuyer incentive programs and down payment assistance options. In addition, access to various lenders in Canada allows for the design of a customized mortgage product that suits individual needs and secures the best rate, even for those who may not qualify at traditional banks due to limited credit or employment history. Innovative tools are available in Canada to ensure an efficient and smooth first-time home buying experience.