New to Canada Mortgages

Unlock your homeownership dreams

Our expert mortgage team helps newcomers secure mortgages with low down payments, flexible terms, and personalized support.

New to Canada Mortgages

Unlock your homeownership dreams

Our expert mortgage team helps newcomers secure mortgages with low down payments, flexible terms, and personalized support.

Welcome to homeownership in Canada

Relocating to a new country is exciting, but navigating the mortgage process can be challenging for newcomers. We simplify this journey by providing tailored mortgage solutions to make homeownership a reality, even if you have a limited Canadian credit history.

Overcoming newcomer challenges

As a new resident, you may encounter obstacles such as:

Get pre-approved now!

Take the first step toward homeownership reach out for your mortgage pre-approval today!

How does our mortgage process work for newcomers to Canada?

Determine your eligibility

We review your employment history, credit score, and finances, as well as assess your eligibility based on your residency status, such as work permit, permanent residency, or citizenship.

Get pre-approved

We secure your pre-approval with the best rate and lender, considering your minimal Canadian credit history and working with lenders who specialize in helping newcomers.

Apply for your mortgage

We help you select the right mortgage type and rate, explain fixed versus variable options, and guide you through gathering the necessary documents to submit a strong application for full lender approval.

Complete your financing

With our white-glove service, we make the closing process seamless, helping you provide your down payment and ensuring every detail is handled for an easy transition to your new home.

Why newcomers prefer our mortgages

Even with limited or no Canadian employment or credit history.

Temporary foreign workers

We assist those with valid work permits.

Foreign income earners

We help individuals with investment income or other foreign earnings.

Permanent residents

We support those on the path to employment or already employed in Canada.

Buy a Home with Confidence

Know your affordability

Get pre-approved to understand how much home you can afford.

Rate guarantee

Benefit from a 120-day interest rate guarantee, giving you time to find the perfect home.

Flexible repayment

Qualify for up to 30 years to repay your mortgage.

Low down payment

You may be able to pay as little as 5% down payment, making homeownership more accessible.

Why choose our team of mortgage professionals?

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Personalized support for every step of the mortgage process.

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Access to programs that fit your unique newcomer profile.

Stress-free, multilingual support to make your transition to homeownership seamless.

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Customized mortgage solutions that fit your lifestyle and budget.

We ensure you make informed decisions with confidence.

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Securing the most competitive rates and terms available, saving you money and maximizing your investment.

New to Canada? Mortgage must-knows to get you home!

You are considered a newcomer to Canada if you:

  • Immigrated to Canada within the last 5 years
  • Hold permanent residency or a valid work permit
  • Meet the eligibility requirements set by Canadian lenders and insurers

What you need to qualify for a newcomer mortgage:

  • Permanent residents must provide a SIN number and proof of admissible income
  • Temporary residents need a valid work permit with at least one year remaining
  • Proof of financial reliability, such as international credit reports or bill payment records, is required
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To streamline your mortgage process, prepare the following:

  • Proof of income and employment history
  • Bank statements and savings records
  • Proof of down payment and rental payment history
  • International credit report (if applicable)
  • Reference letters from financial institutions

Common myths debunked:

  • Myth: You need a long Canadian credit history
  • Truth: International credit reports and alternative proof of financial reliability can help you qualify
  • Myth: 2 years of Canadian employment is mandatory
  • Truth: Newcomer mortgage options allow qualification with as little as 3 months of Canadian employment

Download the new to Canada guide from Sagen

Learn about new to Canada mortgages

Newcomers to Canada FAQS

Can newcomers to Canada qualify for a mortgage?

Yes, newcomers can qualify for a mortgage in Canada. Permanent residents and temporary residents with valid work permits may be eligible, even if they have limited or no Canadian credit history.

Newcomers typically need a minimum down payment of 5% for homes priced under $500,000. For homes priced between $500,000 and $1,500,000, a 10% down payment is usually required. Non-permanent residents may face higher down payment requirements.

No, you do not need an established Canadian credit history to qualify for a mortgage as a newcomer. Lenders may consider alternative documentation, such as international credit reports and proof of timely payments on bills.

Various banks and lenders offer mortgage programs specifically designed for newcomers. These programs often provide flexible terms and may include options for those with limited employment history or credit.

Please reach out to our team of mortgage specialists to secure the best mortgage rates. We can help you navigate the options available and find competitive rates tailored to your financial situation. Contact us

Apply Now

After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!

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New mortgage

After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!

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You will benefit from the expertise of a Fortune Funding Mortgage Advisor, whether over the phone or at a time and place that is convenient for you.

We will contact you within 1 business day.

You must have reached the age of majority in order to complete this request. By applying, you consent to the collection, use and sharing of your personal information as described in Fortune Funding's Privacy Policy.


All fields are mandatory unless stated (optional).

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Renewal

After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!

Get pre-qualified renewing page

You will benefit from the expertise of a Fortune Funding Mortgage Advisor, whether over the phone or at a time and place that is convenient for you.

We will contact you within 1 business day.

You must have reached the age of majority in order to complete this request. By applying, you consent to the collection, use and sharing of your personal information as described in Fortune Funding's Privacy Policy.


All fields are mandatory unless stated (optional).

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Refinance

After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!

Get pre-qualified refinance page

You will benefit from the expertise of a Fortune Funding Mortgage Advisor, whether over the phone or at a time and place that is convenient for you.

We will contact you within 1 business day.

You must have reached the age of majority in order to complete this request. By applying, you consent to the collection, use and sharing of your personal information as described in Fortune Funding's Privacy Policy.


All fields are mandatory unless stated (optional).

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