What Clients Ask The Most

Our New to Canada Mortgage Program aim at helping newcomers to Canada secure a mortgage for their first home.

Yes, most lenders do allow prepayments and early mortgage payoffs, but there may be restrictions or penalties.

The maximum amortization period is 25 years but depending on the lender and other factors, it can be 30 years.

The program offers flexible down payment requirements and reduced credit history expectations to make homeownership more accessible for newcomers in Canada.

The program is typically intended for primary & owner occupied residences, so using it for investment properties might not be allowed.

Yes, it can be used for the new construction.

Under this program, the lenders may consider alternative credit history, such as rental payments and international credit reports.

You need to be in Canada with legal status to apply for the program, as you'll need to provide specific documents.

Yes you can provided it does not affect your ability to repay the mortgage. Communicate with your lender if any significant changes occur.

You are usually considered a first-time home buyer in Canada if you have not owned a property in last 4 years.

If you have a strong credit history in your home country with Equifax or TransUnion, lenders may view you as a responsible borrower, which could improve your chances of getting approved for a mortgage in Canada.

Lenders generally prefer applicants with a stable full time employment history and may ask for proof of employment, such as job offer letters, employment contracts, or pay stubs.

These costs are in addition to the required down payment and will cover for the legal fee, taxes, insurance & land transfer etc. As a rule of thumb, you need at least 1.5% of the property price saved.