Mortgages for newcomers to Canada are available to assist individuals in understanding the Canadian real estate market and associated costs such as closing costs and adjustment fees. By opting for a mortgage instead of paying rent, newcomers can build equity and benefit from employment and credit sources. These mortgages offer the best rates and options for those seeking higher loan amounts of over $1 million, requiring at least a 20% down payment. However, flexibility is provided for down payments as little as 5%. Additionally, homebuyer incentive programs and down payment assistance options will be explained to newcomers. With access to various lenders, including large banks, mortgage finance companies, credit unions, and alternative financiers, customized mortgage products can be designed to meet specific needs and secure the best rates. Even limited credit and employment history do not disqualify borrowers from receiving these mortgages. To ensure an efficient first-time home buying experience, innovative tools are available in Canada.