New to Canada
Newcomers to Canada can obtain a mortgage to buy their first home in Canada, in some cases, with as little as 5% down. Here are a couple of highlights from the ‘New to Canada’ program:
• There is no minimum period of residency required.
• Permanent residents are eligible with 5% down, even if they have limited credit history.
• Non-permanent residents are eligible with 10% down, a job, and a valid work permit; again, even with limited credit history.
Every family is unique. Please call Visdom Mortgage Solutions to discuss your family’s situation and find out if you can buy a home as a newcomer to Canada.