How to get mortgage for First home in Canada ? No credit history, New immigrant to Canada.


1 Answers

Emma  Jackson Profile
Emma Jackson answered

Getting a mortgage for newcomers in Canada is quiet difficult from Banks. Because you are just into Canada, obviously you don't have any credit record, You should not be able to get from Banks. However , there are many lenders that can provide you Mortgages for your very first home. You will have to pay some down payment depend on whether you have a permanent residence status or on non-permanent etc.

- For permanent residence status - 5% Down payment

-  For non-permanent - 10% Down payment

You will have to submit your last 6-12 month Bank statement record (origin Country) , reference letters  etc.

Best ways to reach these lenders is to reach a Mortgage Broker Agent or Service in your province in Canada.

*** You will get more and accurate details from your mortgage provider.


1 Person thanked the writer.
Rohit Sharma
Rohit Sharma commented
Thank You Emma for your kind suggestion. Concern issue is with my cousin brother, he has permanent residence status. He is in Mississauga.

We have heard about some brokers, letc c if we get any good.

Thanks Again.
Emma  Jackson
Emma Jackson commented
Try these well known mortgage services - TMG SuperBroker, TrueNorth and Brevity Capital.

Note: - I am not sure whether they provide mortgage for new immigrants, just heard these are good at mortgage service. So i would suggest you should discuss all your doubts.

Hope you get the right deal.


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