New to Canada Mortgage Financing
If you’ve arrived in Canada during the last 5 years and are here on a Work Permit or are a Permanent Resident, then this mortgage might be perfect for you. With as little as 5% Down Payment and access to the same best rates, these mortgages offer alternate credit history for those homebuyers who have not yet established enough Canadian Credit.
Banks will allow the use of credit from your country of origin, or with a down payment of just 10% we can provide only a Financial Institution letter – there is no easier way to show credit history that this!
There are lots of options and different programs, and requirements for New to Canada Financing. I’ll ask you for a copy of your Work Permit or PR Card, gather a bit of information from you, and then I can provide you the best mortgage options.
Let's Get Started on your New to Canada Mortgage!
HERE’S WHAT YOU’LL NEED:
A valid work permit or verification of landed immigrant status
Proof of 3 months employment history. If you arrived as part of a corporate relocation, you are exempt from this requirement.
A down payment as low as 5% if you have full-time employment
International credit bureau (not always required - only for US/UK applicants)
Permanent Resident Mortgage Financing
Permanent Residency allows new to Canada mortgage applicants to qualify for mortgage financing under conventional borrowing guidelines. Permanent residency requires applicants to have been in Canada for 2 years; however, if you don’t have a full 2 years, we can still apply under the New to Canada Program.