Mortgage options are available for newcomers to Canada who want to understand the real estate market, closing costs, and other associated expenses. Instead of paying rent, newcomers can build equity and take advantage of employment and credit sources. There are options for higher loan amounts, starting at $1 million, with a minimum down payment of 20%, or as little as 5% for more flexibility. Homebuyer incentive programs and down payment assistance options will also be explained. With access to a variety of lenders, including banks, mortgage finance companies, credit unions, and alternative financers, customized mortgage solutions can be designed to meet individual needs. Even with limited credit and employment history, the best rates can still be secured. Innovative tools in Canada are available to ensure an efficient first-time home buying experience.