Mortgages for newcomers in Canada aim to assist them in understanding the country's real estate market and associated costs. This includes providing information on closing costs and adjustment costs. The goal is to help newcomers build equity rather than pay rent, benefiting from employment and credit sources. These mortgage options cater to newcomers looking for higher loan amounts, typically over $1 million, with a minimum down payment of 20% saved. However, there is also flexibility on down payment, allowing for as little as 5% down. Homebuyer incentive programs and down payment assistance options will be explained to potential borrowers. Moreover, by having access to all of Canada's top lenders, such as large banks, mortgage finance companies, credit unions, and alternative financiers, a custom-tailored mortgage product can be designed to suit specific needs. This includes offering competitive interest rates, even for individuals who may not qualify at their own bank due to factors like limited credit history or employment history. Lastly, innovative tools are available in Canada to ensure an efficient and smooth first-time home buying experience.