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New to Canada

Let us help you settle in!

New to Canada

Getting Started with Your First Home in Canada

Securing a mortgage when you are new to Canada can be difficult. Lenders typically rely on credit history to determine your eligibility for a mortgage and this takes time to establish. When you are new to Canada, you likely have limited or no credit available for lenders to analyze your profile, but we have programs to help. A down payment of 5% on a property may be available to you. The type of mortgage you will qualify for, and what documentation you’ll need to provide to your mortgage agent will depend on whether or not you are a permanent resident, what your credit rating is and how much you have saved for a down payment and where that downpayment came from. Many lenders will also ask for credit history or bank statements from your current country to help with their decision.

Don't Forget These Important Documents!

If you are a permanent resident and have a strong credit rating, you may be able to qualify for a typical mortgage. If you don’t meet the qualification details of a typical mortgage, there may still be a chance to obtain a mortgage through one of the “New to Canada” Programs offered by Canada’s three mortgage default insurance providers (CMHC, Genworth Financial or Canada Guaranty). These providers have their own programs geared to helping newcomers obtain mortgages in order to purchase a home.

Top 10 Reasons to Use a Mortgage Broker

 

 

Get A Great Mortgage For Your First Home in Canada

We love to help home buyers find the right mortgage for their situation. It's why so many people look to Kingston Mortgage Solutions. Get in touch today to find out more about our rates and how we can help you get the best mortgage for your first home in Canada.

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Trust Kingston Mortgage Solutions to work hard on your behalf to find the best mortgage option and rate solution for your new home, debt consolidation/refinance, renewing mortgage, commercial mortgage or whatever your mortgage need is.

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