Mortgages for People New to Canada aim to assist newcomers in understanding the Canadian real estate market and its associated costs. This includes providing information about closing costs and adjustment costs. The program encourages newcomers to build equity rather than pay rent, allowing them to benefit from employment and credit sources. Additionally, the program helps newcomers find the best rates and mortgage options, especially for those looking for higher loan amounts (over $1 million) with at least a 20% down payment. However, the program also offers flexibility on down payment requirements, accepting as little as 5% down. They also provide information on homebuyer incentive programs and down payment assistance options. With access to all of Canada's top lenders, including banks, mortgage finance companies, credit unions, and alternative financers, the program can design a custom-tailored mortgage product that fits individual needs and secures the best rate, even if the applicant doesn't qualify at their bank due to limited credit and employment history. The program also offers access to innovative tools that ensure an efficient first-time home buying experience.