Purchasing a Home When You Are New To Canada
The New To Canada mortgage program makes it possible for people that have relocated to Canada to purchase a home sooner with as little as 5% down. The program helps new Canadians purchase their first home, build equity, and become economically established in Canada.
Securing financing for a home in a new country can be a challenge. As an expert in Canadian mortgages, I help people who are new to Canada obtain affordable financing. The program is for both permenant residents as well as those here on a valid work permit.
Credit and work history are very important when trying to obtain a mortgage. Unfortunately, as a newcomer to Canada, you may not have a credit history that is accessible to Canadian lenders. If you want to buy a home, it is important to begin building a new credit history as early as possible.
Some banks and mortgage companies will consider factors other than a traditional credit history when processing a mortgage application under the New to Canada program. For example they will consider the payment of rent or room and board for a 12-month period, plus proof of one additional payment (for example, a utility or cable bill).
To find out more or to see if you and your family would qualify under the New To Canada mortgage program, contact me today.