New to Canada Mortgages
New to Canada and ready to buy? There are newcomer programs built for you — even with limited credit history.
You don't need years of Canadian credit history to own a home. Major lenders and insurers offer New-to-Canada programs for permanent residents and eligible work-permit holders, using alternative proof of creditworthiness. I'll guide you through what you need and find the program that gets you approved.
What you get
As little as 5% down
Qualified newcomers can access the same low down-payment insured financing as other buyers.
Alternative credit accepted
Rent, utility, and international credit references can stand in for a thin Canadian credit file.
PR and work-permit programs
Options for both permanent residents and eligible foreign workers on valid permits.
Guidance in plain language
I'll walk you through every document and step so nothing gets lost in translation.
Simple, from first call to close
We confirm your status, income, and available down payment.
I match you to the right New-to-Canada program among 88+ lenders.
You get approved and step into home ownership in your new country.
What lenders mean by “new to Canada”
Most newcomer programs define you as new to Canada if you have been here five years or less. Permanent residents get the widest choice of lenders. Eligible work-permit holders have fewer doors open, but real ones — and the gap between those two situations is the single biggest factor in what you can borrow.
Your down payment requirement usually follows your status. Permanent residents who qualify can often buy with the same 5% minimum on the first $500,000 as any other buyer. Work-permit holders are typically asked for more — commonly 10%, and some lenders want considerably more depending on the file. Non-residents face the steepest requirements and additional rules. I will tell you which category you land in before you start looking at homes, because it changes your budget more than the interest rate does.
How to prove creditworthiness without a Canadian credit file
A thin Canadian credit history is the normal starting point, not a problem to hide. Lenders in newcomer programs accept alternatives:
- An international credit report from your home country, where one is available
- Twelve months of rent payment history, usually confirmed by your landlord in writing
- Utility, phone or insurance payment records in your name
- Bank statements from abroad showing consistent savings behaviour
Start building Canadian credit the day you arrive anyway. A single secured credit card, used small and paid in full monthly, produces a usable score faster than most newcomers expect — and it widens your lender options considerably by the time you are ready to buy.
The documents newcomers get asked for
Beyond the standard package, expect requests specific to your situation: your PR card or work permit, your passport, proof of landing date, and a letter of employment that states your position, salary and start date. If part of your down payment came from overseas, lenders will want a clear trail showing it arriving — the transfer record plus 90 days of statements at both ends.
That last item causes more delays than anything else. Money that lands in a Canadian account without an explainable history gets questioned. Move your funds early, keep every transfer receipt, and leave it in one account.
Buying as a newcomer in the GTA
Two local details matter. Ontario charges land transfer tax on every purchase, and a second municipal tax applies inside Toronto — but if nobody on the application has owned a home anywhere in the world, you may qualify for first-time buyer rebates of up to $4,000 provincially and $4,475 in Toronto. Many newcomers qualify and never claim it.
Second, there is a federal ban on residential purchases by certain non-Canadians with defined exemptions. Permanent residents are not caught by it; some permit holders and students are exempt under specific conditions. It is worth confirming your position early rather than discovering it at the offer stage.
Commuter towns like Bradford, Barrie and Oshawa put newcomers into detached homes at prices Toronto cannot match, with GO Transit access back into the city.
Common questions
Can I get a mortgage without Canadian credit history?
Yes. New-to-Canada programs accept alternative credit references — like rental and utility payment history or an international credit report — in place of a long Canadian credit file.
Do I need to be a permanent resident?
Permanent residents have the widest options, but many lenders also lend to eligible work-permit holders. I'll match you to a program that fits your status.
How much down payment do newcomers need?
Qualified newcomers can often buy with as little as 5% down on insured financing, the same as other first-time buyers.
How long do I need to have been in Canada to get a mortgage?
There is no universal waiting period. Several newcomer programs are built for people who arrived within the last five years, and some lenders will look at a file within months of arrival provided income and status are documented. Time in Canada matters less than provable income and a clear status.
Can I use income earned outside Canada to qualify?
Usually not on its own for a prime lender, which wants Canadian employment income. Foreign assets and an international credit report can still strengthen the file, and some lenders take a broader view. It is worth reviewing before assuming the answer is no.
Do newcomers pay a higher mortgage rate?
Not automatically. A well-documented newcomer file with a solid down payment can price at ordinary rates. Rates rise when credit history is thin and the down payment is minimal — which is why the paperwork you bring matters more than the fact you are new here.
Is the foreign buyer ban a problem for me?
Not if you are a permanent resident, and generally not for eligible work-permit holders who meet the residency conditions. The restriction targets non-resident purchasers, not newcomers living and working in Canada. Confirm your specific status before making an offer.
Other programs
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