Newcomers Mortgage Info.
What Is a Newcomer Mortgage?
A newcomer mortgage is a special type of mortgage offered by some banks in Canada that are designed to help newcomers get a mortgage even if they don’t meet the eligibility requirements for a regular mortgage.
Many banks and lenders offer mortgage options for new immigrants to Canada to help them get settled into their own home.
What you need to know
- Newcomer mortgages have more lenient guidelines than traditional mortgages for those without Canadian credit history or employment history.
- You will need to have been in Canada for less than 5 years to be considered a new immigrant.
- Non-permanent residents can get a newcomers mortgage too, but they may need to make a higher down payment.
- The minimum down payment can be as low as 5% for homes less than $500,000, or 35% or more if you don’t have any credit history.
For more information, visit Newcomers Mortgage Info.
Testimonials
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Very helpful, professional Realtor and handled the process smoothly even though I am away! Keep up the good job finding people their home! Thank-you!
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We appreciate what you have done for us, and we want to thank-you so much!
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Vanessa is an amazing realtor and she helped find my perfect home while out of province. She answered and explained all my questions. I found her very reliable and trustworthy. She made me feel very comfortable with my purchase. Thank-you and keep up the good work.
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