New to Canada
Newcomer mortgage programs designed for permanent residents and work-permit holders.
Building a life in Canada often means buying a home before you've built a long Canadian credit history. Lenders offer dedicated newcomer programs for permanent residents and many work-permit holders, with flexible requirements around credit and documentation. A Finevo advisor helps you gather the right paperwork and find a program that gets you into your first Canadian home sooner.
What to know
Limited Canadian credit accepted
Newcomer programs accept alternative proof of creditworthiness — such as international credit reports, rental history, or utility payments — when you don't yet have an established Canadian score.
Competitive down payments
Permanent residents can often purchase with as little as 5% down on the first $500,000, similar to other first-time buyers.
Work-permit options
Many lenders offer programs for non-permanent residents on a valid work permit, typically with a larger down payment.
Documentation guidance
We help you prepare the documents lenders look for, including proof of status, employment, and bank statements showing your down payment.
Good to know
- Default insurers (CMHC, Sagen, and Canada Guaranty) all offer newcomer programs with specific eligibility rules.
- A letter of employment and recent pay stubs strengthen your application.
- Establishing a Canadian bank account and a credit card early helps build your local credit profile.
This information is a general overview of Canadian mortgage options and is not financial advice. Programs, rates, and eligibility are subject to change and to lender and insurer qualification. Speak with a licensed Finevo advisor for guidance specific to your situation.
Let's find the right fit
Connect with a licensed Finevo advisor for a personalized look at your new to canada options across 40+ Canadian lenders.