Newcomers to Canada can benefit from mortgages tailored specifically for them, helping them navigate the real estate market and understand closing costs and adjustment costs. By choosing to build equity through homeownership instead of renting, newcomers can take advantage of employment and credit sources. These mortgages offer the best rates and options for loan amounts over $1 million, requiring a minimum down payment of 20% or even as low as 5% in some cases. In addition, homebuyer incentive programs and down payment assistance options will be explained to help newcomers make informed decisions. With access to a variety of lenders, including banks, mortgage finance companies, credit unions, and alternative financers, a customized product can be created to meet individual mortgage needs and secure the best possible rate, even for those with limited credit or employment history. Innovative tools are also available to streamline the first-time home buying experience for newcomers in Canada.