Mortgages

mortgages

New To Canada

Starting a new chapter in Canada? Let us help you secure a home and make the transition easier. At Your Mortgage Needs, we specialize in helping newcomers find the best mortgage options to fit their unique situations.



Common Questions for Newcomers to Canada

1. Can I get a mortgage without Canadian credit history?

• Yes! Many lenders offer newcomer programs that use alternative forms of credit verification, such as international credit reports or proof of rent payments.

1. What is the minimum down payment for newcomers?

• If you’re a permanent resident, you can qualify with as little as 5% down. For non-permanent residents, the minimum is typically 10%.

1. Do I need a job in Canada to qualify?

• Having Canadian employment helps, but some lenders accept overseas income or job offer letters if you’ve recently moved.

1. Are there special programs for newcomers?

• Programs like the New to Canada Mortgage Program from major lenders cater specifically to recent immigrants, offering competitive rates and flexible terms.

1. What other costs should I budget for?

• Beyond the down payment, you’ll need to cover closing costs, property taxes, and home insurance.

We’re here to guide you every step of the way so you can confidently settle into your new life in Canada.