Mortgages for newcomers in Canada aim to guide them in understanding the real estate market and associated costs, such as closing costs and adjustment costs. Instead of renting, newcomers are encouraged to build equity and benefit from employment and credit sources. With the option to choose from various lenders, including large banks, mortgage finance companies, credit unions, and alternative financers, newcomers have the flexibility to find the best rates and mortgage options. This includes higher loan amounts (over $1 million) with a minimum of 20% down payment or even as little as 5% down. Additional assistance is provided in terms of explaining homebuyer incentive programs and down payment support options. Access to innovative tools in Canada allows for an efficient and seamless first-time home buying experience.