New To Canada
Get Pre-Approved
This is the first step on your road to homeownership. A pre-approval is a conditional commitment from your lender to grant you a mortgage, which will help you understand what you can comfortably afford to spend. Let’s get you pre-approved today!
Book A Call With One Of Our Experts
You have questions and we have answers! Let’s talk about what we can do to get you into your first home, upgrade to a new home, tap into your home equity, take advantage of today’s low rates through a refinance or whatever your mortgage financing needs may be.
New to Canada
If you’re new to Canada – or considering moving here – and want to settle into your own home, we’re here to get you prepared for this exciting undertaking! There are many special requirements you must meet to obtain a mortgage approval, particularly surrounding employment, credit history and down payment. We’ll help you understand the New to Canada mortgage program requirements so you can purchase a home as soon as possible.
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How It Works
Book a Call with One of Our Team Members to Discuss Your Goals
We want to hear your story so we can understand your goals and dreams, and customize a mortgage plan that works best for your unique situation.
1
Apply For Your Mortgage
If you’re buying a new property, we’ll secure a pre-approval so you know what you can comfortably afford. And if you’re renewing or refinancing an existing mortgage, we’ll ensure we find your best options.
2
Review All Your Options
We’ll get the lenders competing for your mortgage business. Next, we’ll review your options so you understand each choice.
3
Choose The Best Mortgage For You
We’ll clearly explain which option we believe best fits your current financial situation and future goals, and why this is our top pick.
4
New to Canada questions
Can I get a mortgage if I am new to Canada?
Yes. Lenders run New to Canada mortgage programs designed for buyers who have not yet built a Canadian credit history.
Does my immigration status affect what mortgage I can get?
Yes, and it is often the deciding factor. Where you are in the immigration process — student, work permit holder, refugee claimant or permanent resident — changes which lenders will consider you, what down payment is required and how your income is verified.
How long do I need to have lived in Canada to qualify?
It depends on the program. Requirements differ on time in Canada, residency status and down payment, which is why it is worth checking the specific programs you qualify for before you start looking.
What if I have no Canadian credit history?
Programs commonly accept an international credit report, or alternative proof such as 12 months of rent and utility payments made on time.
What down payment do newcomers need?
Newcomer programs generally follow the same minimums as other buyers, though some lenders ask for more depending on residency status and how income is verified.
Is there an extra tax for non-residents buying property in Ontario?
Ontario applies a Non-Resident Speculation Tax to homes bought by foreign nationals and foreign corporations, on top of land transfer tax. Whether it applies to you depends on your immigration status, so it should be checked before you make an offer.
Do I need permanent residency to buy a home in Canada?
Not always — some programs are open to work permit holders — but residency status affects which lenders are available to you and whether additional taxes apply.