New Comers To Canada

A new to Canada mortgage is part of the New To Canada Mortgage Insurance Program, which allows people who have relocated to Canada to buy a home faster than usual with a down payment as low as 5 percent. It can be frustrating for new arrivals to obtain a mortgage after moving to Canada, but this loan type can make the process much easier.

New to Canada mortgages feature high loan-to-value ratios for qualified borrowers, extended amortization rates, low down payment options and flexibility in choosing between a fixed-rate or adjustable-rate mortgage.