Mortgages for individuals who are new to Canada aim to provide support in understanding the Canadian real estate market, as well as the associated costs such as closing costs and adjustment costs. These mortgages allow newcomers to build equity instead of paying rent, benefiting from available employment and credit sources. They offer the best rates and mortgage options for those seeking higher loan amounts (over $1 million) with a saved down payment of at least 20%, and also provide more flexibility on down payment requirements, allowing for as little as 5% down. Furthermore, these mortgages provide information and assistance on homebuyer incentive programs and down payment assistance options. Access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, ensures the availability of custom-tailored products that meet specific mortgage needs, even for individuals who may not qualify at their bank due to limited credit or employment history. Additionally, innovative tools are available in Canada to facilitate an efficient first-time home buying experience.