The New To Canada Mortgage Program makes it possible for individuals relocating to Canada to purchase a home sooner with as little as 3% down. Through this program new Canadians are able to purchase their first home, build equity, and become economically established in Canada.

Program features

Flexible, Innovative, Accessible, Affordable

• If you have a substantial down payment (25% or more), and do not have employment on arrival to Canada, you will qualify for a mortgage as soon as you arrive.

• If you can show that you have been working for two years and you can afford to put down at least 20% of the purchase price, you may qualify for a “conventional” mortgage.

• If you are putting less than 25% to 10% down confirmation of employment and income is required. Three month Canadian employment history, Canadian Landed Status or work visa along with a bank reference letter and your proof of down payment will be accepted to qualify for a mortgage.

• If you don’t have any money available to use as a down payment, you may still qualify for a mortgage as long as you have a steady income and a good credit rating. For a no down payment mortgage all you need is about 1.5% of the purchase price to cover the initial deposit and closing costs.

Each mortgage application is evaluated by individual circumstance. I can help determine the right solution for you! Contact me.

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Documentation Requirements

•  Valid work permit or verification of landed immigrant status
•  Income confirmation
•  Down payment confirmation
•  Purchase and Sale agreement for house purchase in Canada
•  Letter of reference from a recognized financial institution, OR
•  Six (6) months of bank statements from primary account

Mortgages between 90.01 - 97%

•  International credit report demonstrating a strong credit profile, OR
•  Two (2) alternative sources of credit demonstrating timely payments showing (no arrears) for the past 12 months.

The two alternative sources required are:

•  Rental payment history confirmed via letter from landlord and bank statements
• One other alternative source (hydro/utilities, telephone, cable) to be confirmed via letter from the service provider or 12 months billing statements