Mortgages for new immigrants or individuals new to Canada are designed to help them understand the Canadian real estate market and associated costs. This includes educating them about closing costs and adjustment costs that are involved in purchasing a property. By understanding these costs, newcomers can make informed decisions about buying a home and building equity, rather than paying rent.

One of the key benefits of getting a mortgage as a newcomer is the opportunity to build equity. Instead of renting a property, individuals can invest in a property of their own and benefit from the employment and credit sources available to them in Canada. This can help them establish a strong financial foundation and potentially increase their wealth over time.

For newcomers looking to secure a higher loan amount (over $1 million), there are mortgage options available. These options require a minimum of 20% down payment saved, but they also offer more flexibility with down payments. In some cases, a down payment as low as 5% may be accepted. Additionally, we can provide information about homebuyer incentive programs and down payment assistance options that can further assist newcomers in achieving their homeownership goals.

To provide the best mortgage options, we have access to all of Canada's top lenders. This includes large banks, mortgage finance companies, credit unions, and alternative financers. Even if individuals don't qualify for a mortgage at their own bank due to reasons such as limited credit history or employment history, we can still explore other options and secure a mortgage that fits their needs. Our goal is to design a custom-tailored mortgage product that not only meets their requirements but also locks in at the best rate possible.

We understand the importance of an efficient first-time home buying experience for newcomers. Therefore, we provide access to innovative tools in Canada that can streamline the process. These tools can help individuals navigate the complexities of the real estate market and make informed decisions when purchasing their first home in Canada.