Mortgages for newcomers to Canada are designed to assist individuals in understanding the Canadian real estate market and the associated costs, such as closing costs and adjustment costs. By opting for a mortgage, newcomers can build equity rather than paying rent and benefit from employment and credit sources. These mortgage options also aim to find the best rates, especially for those looking for higher loan amounts (over $1 million) with a down payment of at least 20%. There is also the possibility of more flexibility on down payment options, with as little as 5% down. Additionally, homebuyer incentive programs and down payment assistance options will be explained to borrowers. By having access to all of Canada's top lenders, such as large banks, mortgage finance companies, credit unions, and alternative financiers, customized mortgage products that suit individual needs can be created. This includes securing the best rate even if the borrower does not qualify at their own bank due to limited credit and employment history. Finally, newcomers can take advantage of innovative tools in Canada to ensure an efficient and smooth first-time home buying experience.