How New Immigrants Can Get a Mortgage in Canada

One of the most common questions I hear from newcomers to Canada is: "Can I get a mortgage if I just arrived?" The answer, in most cases, is yes. Canada has specific mortgage
programs designed for new immigrants — and you don't need years of Canadian credit history to qualify.

The Challenge New Immigrants Face

When you arrive in Canada, you typically have no Canadian credit score. Even if you had excellent credit in India, the Philippines, or anywhere else, Canadian lenders can't
access it. This makes it difficult to qualify through a traditional bank.

But "difficult" doesn't mean impossible — especially if you work with a mortgage agent who knows which lenders offer New-to-Canada programs.

What Are New-to-Canada Mortgage Programs?

Several lenders — including major banks and mortgage insurers like CMHC — have programs specifically for newcomers. These programs take a different approach to qualification:

- Minimum credit history: As little as 6 months of Canadian credit history
- Alternative credit references: International credit bureau reports, proof of rental payment history, or a letter from a foreign bank
- Employment proof: A letter of employment or recent pay stubs showing stable Canadian income
- Immigration status: Available to permanent residents, temporary residents with a valid work permit, and in some cases, those with Confirmation of Permanent Residence (COPR)

How to Build Canadian Credit Quickly

If you've just arrived, start building credit immediately:

1. Get a secured credit card — you deposit a small amount (e.g., $500) as collateral and use the card for everyday purchases. Pay it in full every month.
2. Open a Canadian bank account — some lenders use banking history as a credit reference
3. Get a cell phone plan in your name — this shows up as a credit account
4. Avoid applying for too many products at once — multiple credit applications in a short period can hurt your score

With consistent effort, you can establish a usable credit history in 6–12 months.

What Documents Will I Need?

Requirements vary by lender, but typically include:

- Valid immigration documents (PR card, work permit, COPR)
- Canadian employment letter and recent pay stubs
- Proof of down payment (bank statements for 90 days)
- International credit reference letter (from your home country bank)
- Proof of rental history in Canada (if applicable)
- Two pieces of government-issued ID

How Much Down Payment Do I Need?

The same rules apply as for other buyers:
- 5% for homes up to $500,000
- 10% on the portion between $500,000 and $999,999
- 20% for homes $1M and above

Most newcomers use savings they've transferred from abroad. Make sure you can document where the funds came from — lenders will ask.

I Speak Hindi and Punjabi

Navigating a mortgage in a new country is stressful enough. I work with GTA newcomers regularly and offer consultations in English, Hindi, and Punjabi — so you can ask every
question in the language you're most comfortable in.

If you've recently arrived in Brampton, Mississauga, or anywhere in the GTA and want to understand your options, book a free consultation. There's no cost and no obligation.