New To Canada Mortgage
If you are a new immigrant to Canada, obtaining a mortgage has never being easier. You can qualify for a standard mortgage of up to 95% of borrowing. That is right, up to 95%! This program is open for all new immigrants with permanent residency, temporary residency, or a work VISA.
Guidelines for qualification are:
- Must have landed in Canada within the last 3 to 5 years (depending on lender)
- Must have full time permanent employment for over 3 months
- Must have a down payment of at least 5%
- For borrowers who do not have established credit in Canada must provide two sources of credit information such as rental agreement, phone bill, bank account etc. An international credit bureau can also be used pending lender stipulations