Being a newcomer to Canada or recently immigrating can make it difficult to acquire a traditional mortgage. Some things that will need to be considered when looking at mortgage as a new Canadian are as follows:

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Resident Status in Canada

Are you a permanent resident in Canada? If not, what do you have as a Visa? If you have a work Visa and have applied for Permanent Resident status you could still be eligible.

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Credit Rating

A good credit score is going to help anyone with their mortgage, however as a newcomer to Canada it is even more important to have a better credit score.

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Down Payment

Again the down payment plays a large role in any mortgage you're going to get, however if you are able to provide more down there are more benefits, including being able to skip the CMHC Mortgage Insurance, which can amount to a significant amount of more money needed on the mortgage.

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Reach out today and let us help you get started on your home buying journey.

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