Mortgages for People New to Canada aim to help newcomers understand the Canadian real estate market and associated costs, such as closing and adjustment costs. By opting for a mortgage instead of renting, newcomers can build equity through their employment and credit sources. This program also assists newcomers in finding the best rates and mortgage options, particularly for loan amounts exceeding $1 million with a minimum down payment of 20%, but also offering flexibility with a down payment as low as 5%. Additionally, the program explains homebuyer incentive programs and down payment assistance options. With access to Canada's top lenders, including banks, mortgage finance companies, credit unions, and alternative financers, a customized mortgage product can be designed to meet specific needs and lock in the best rate, even for those who may not qualify at their bank due to limited credit or employment history. Innovative tools are also available to ensure an efficient first-time home buying experience in Canada.