What are the benefits of a newcomer mortgage?

Newcomer mortgage programs offer flexible approval criteria, lower down payment options, competitive rates, and incentives for setting up newcomer accounts with partner banks.

Which bank is the easiest for newcomers to get a mortgage from?

Approval depends on individual profiles, but RBC, CIBC, and other major lenders offer dedicated newcomer mortgage programs. City Mortgages matches you with the best lender for your situation.

New to Canada Mortgage Solutions in Toronto

Q: Can a non-resident get a mortgage in Canada?

Yes. Non-residents can qualify for mortgages in Canada, including specialized non-resident mortgage programs, often with higher down payment requirements.

Q: Can I buy a house on a work permit in Canada?

Yes. Many banks offer work permit mortgage programs, allowing individuals without permanent residency to purchase a home in Canada.

Q: How can I qualify for a mortgage without Canadian credit history?

New-to-Canada mortgage programs accept foreign credit reports, rental history, and proof of savings abroad when Canadian credit history is not available.

Starting fresh in Canada is exciting, but buying your first home as a newcomer can feel overwhelming. Many new immigrants worry about whether they qualify for a mortgage, what documents are required, and which programs are available to them. At City Mortgages, we specialise in guiding newcomers through the Canadian mortgage process with clarity and expertise. Whether you’re on a work permit, a recent permanent resident, or arriving as a professional with foreign income, we make homeownership in Toronto and across Ontario more achievable.

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Why Choose City Mortgages for Your New to Canada Mortgage Needs

For newcomers, finding the right lender is often the biggest challenge. Some banks require a lengthy credit history, a high down payment, or permanent employment before approving a mortgage. At City Mortgages, we remove these barriers by connecting you with lenders who understand the newcomer mortgage program Canada offers.

Here’s why homeowners in Toronto trust us with their financing needs:

Access to Major Bank Programs: We work with leading financial institutions, including CIBC's newcomer mortgage programs, and other newcomer mortgage lenders in Canada.

Flexible Options for New Immigrants: From the New Immigrant Mortgage Program in Canada to specialised work permit mortgage solutions, we help you qualify, even without a long credit history.

Personalised Guidance: Every newcomer’s journey is unique. We ensure your mortgage plan aligns with your income, residency status, and long-term housing goals.

Toronto Market Expertise: The Toronto housing market is competitive. We ensure your mortgage approval is structured to help you succeed in today’s environment.

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Mortgage for Newcomers in Toronto

If you’re new to the country, you might wonder: Can I get a mortgage in Canada without local credit history? The answer is yes. Programs such as the New to Canada Mortgage Program and the Newcomer Home Buyer Incentive allow recent immigrants to purchase homes with more reasonable requirements.

Key features of the newcomer mortgage Canada programs:

Available for permanent residents, work permit holders, and in some cases, temporary residents.

Minimum down payment of 5-10%, depending on property value.

Proof of foreign income is often accepted.

Options from various newcomer-friendly lenders offer competitive rates for new immigrants, including non-resident and international applicant programs.

At City Mortgages, we simplify the application process, so you don’t have to navigate complicated lender requirements alone.

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Simplified New to Canada Mortgage Process with City Mortgages

At City Mortgages, we believe newcomers deserve a straightforward and stress-free path to homeownership. That’s why we’ve designed a step-by-step process tailored specifically for immigrants, work permit holders, and non-residents. From your first consultation to closing day, our team ensures you understand each stage and feel confident about your mortgage approval.

Step 1

Initial Consultation: Our process begins with a detailed consultation, during which we review your residency status, income source, and homeownership goals. Whether you qualify for a newcomer mortgage program in Canada or a loan for temporary residents in Canada, we explain your options in simple terms. This first step ensures you know exactly where you stand before moving forward.

Step 2

Lender Matching: Every newcomer’s situation is different, so we carefully match you with lenders who understand your needs. Whether you require a non-resident mortgage in Canada, a work permit mortgage in Canada, or a self-employed mortgage, we find favourable terms that fit your profile. This ensures you don’t waste time applying where approval is unlikely.

Step 3

Application Preparation: Paperwork can feel overwhelming, especially for newcomers. Our team helps you prepare all required documentation, such as employment letters, foreign credit reports, proof of savings abroad, or rental history. By handling these details carefully, we minimise delays and increase your chances of a quick approval.

Step 4

Approval & Negotiation: Once your application is submitted, we work directly with lenders like Royal Bank mortgages, CIBC newcomer mortgages, or trusted alternative providers. Our role is to negotiate the most competitive rates and terms available, ensuring your mortgage agreement aligns with both your budget and long-term financial goals.

Step 5

Closing Support: When your mortgage is approved, our work isn’t finished. We provide closing support to make the final steps smooth and stress-free. From reviewing lender conditions to coordinating with lawyers and real estate agents, we ensure your home purchase in Toronto or Ontario is completed without unnecessary complications.

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Benefits of a New to Canada Mortgage

Securing a new-to-Canada mortgage program provides newcomers with unique advantages that traditional mortgage products often don’t offer. These benefits are designed to make homeownership more accessible, even if you have little or no Canadian credit history. With tailored options from major lenders and other newcomer mortgage programs in Canada, newcomers can begin building equity sooner. Beyond early access to homeownership, these programs offer flexibility in qualification, financial support for families, and opportunities to purchase property in Toronto before prices rise further. Below, we outline the most important advantages for new immigrants.

Early Homeownership

One of the main benefits of a newcomer mortgage program in Canada is that you don’t need to wait years to build local credit before purchasing a home. Lenders understand that new immigrants want stability quickly, so they accept alternative documentation, such as rental payment history or foreign income. This means you can start owning property, building equity, and avoiding high rental costs much sooner than expected.

Flexible Qualification

Qualifying for a traditional mortgage in Canada usually requires a strong credit history, Canadian tax returns, and local employment records. For new immigrants, these requirements can feel out of reach. Thankfully, newcomer mortgage programs in Canada accept international credit reports, employment letters from new jobs, and proof of assets abroad. Some lenders also accept larger down payments in place of established credit.

Support for Families

Newcomer mortgage programs are designed with families in mind. Special offers and mortgage incentives from various lenders make it easier for first-time buyers to afford their homes. These may include reduced fees, special rate offers, and additional support for new clients. For families settling in Toronto, these savings can make a significant difference in balancing housing costs with other household expenses.

Toronto-Specific Opportunities

Waiting years to establish a Canadian credit history could mean paying significantly more for the same property in the future. The new mortgage programs for newcomers to Canada allow them to enter the Toronto real estate market earlier, protecting them from rising prices. With property values in Toronto continuing to grow, buying sooner with a specialised newcomer program can be a financially wise move.

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Why Homeowners in Toronto Trust City Mortgages

Local Expertise: Deep knowledge of Toronto’s diverse real estate neighbourhoods.

Proven Results: A track record of helping newcomers secure mortgages, even in competitive conditions.

Transparent Guidance: Clear answers to questions like Can a non-resident get a mortgage in Canada? or Can you buy a house on a work permit in Canada?

Personal Connection: We understand the challenges of relocating to a new country and starting anew.

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Competitive Advantage vs Other Toronto Mortgage Providers

What sets City Mortgages apart in Toronto’s crowded mortgage market?

Specialised Expertise: Unlike general brokers, we specialise in mortgages for newcomers to Canada and the New Immigrant Mortgage Program in Canada.

More Options: From a non-resident mortgage in Canada to an international mortgage, we cover both mainstream and alternative lending.

Tailored to Toronto Buyers: We understand the realities of Toronto real estate, from bidding wars to condo financing requirements.

Trusted Partner: Homebuyers prefer working with a firm that understands the cultural and financial transitions faced by immigrants.

Newcomer Mortgage and Other Bank Programs

Many newcomers are drawn to newcomer mortgage programs due to their benefits, including special advantages, dedicated accounts, and mortgage incentives. These programs make it easier to qualify without a Canadian credit history.

Other banks, such as CIBC's newcomer mortgage and Royal Bank of Canada's newcomer packages, also offer competitive options. At City Mortgages, we compare multiple options to ensure you find the right fit, rather than being limited to a single bank.

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FAQs: New to Canada Mortgages

Can a non-resident get a mortgage in Canada?

Yes. Programs like the non-resident mortgage Canada allow non-residents to buy property, often with a higher down payment.

Can I buy a house on a work permit in Canada?

Yes. Many banks offer a work permit mortgage program in Canada. You may qualify even without permanent residency.

How can I qualify for a mortgage without Canadian credit history?

The new-to-Canada program mortgage allows you to use international credit reports, rental history, or proof of savings abroad.

What are the benefits of the newcomer mortgage?

The newcomer offer includes flexible approval, competitive rates, and incentives for setting up an newcomer account.

Which bank is the easiest to get a mortgage from in Canada?

While banks like CIBC offer mortgages for newcomers, approvals depend on your unique profile. City Mortgages works with multiple lenders to improve your chances.

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New to Canada Mortgage Solutions in Toronto

Why Choose City Mortgages for Your New to Canada Mortgage Needs

Mortgage for Newcomers in Toronto

Simplified New to Canada Mortgage Process with City Mortgages

Step 1

Step 2

Step 3

Step 4

Step 5

Benefits of a New to Canada Mortgage

Early Homeownership

Flexible Qualification

Support for Families

Toronto-Specific Opportunities

Why Homeowners in Toronto Trust City Mortgages

Competitive Advantage vs Other Toronto Mortgage Providers

Newcomer Mortgage and Other Bank Programs

Services Beyond Newcomer Mortgages

FAQs: New to Canada Mortgages

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