New To Canada Mortgages

Smart Start Management and consulting

If you are new to Canada and looking to purchase a home in British Columbia, a New to Canada mortgage may be the solution you need. Traditional mortgage lenders often require a Canadian credit history, which can be difficult for newcomers to provide. However, there are specialized lenders who offer New to Canada mortgages with more flexible requirements. Here are some of the qualifications and benefits of New to Canada mortgages in British Columbia:


  1. Permanent residency status: To be eligible for a New to Canada mortgage, you must have permanent residency status in Canada.

  2. Proof of income and employment: You will need to provide documentation to prove your employment and income, such as pay stubs, employment letters, and bank statements. If you have just arrived in Canada, you may need to provide additional documentation such as your foreign credit report or international credit history.

  3. Down payment: Like traditional mortgages, New to Canada mortgages require a down payment. While the minimum down payment for most mortgages in Canada is 5%, it may be beneficial for newcomers to provide a larger down payment to reduce the amount of the loan and improve their chances of approval.


  1. Easier access to home ownership: New to Canada mortgages offer easier access to home ownership for newcomers who may not have a Canadian credit history or stable employment history yet.

  2. Flexible requirements: New to Canada mortgages have more flexible requirements in terms of credit history and employment history, which can be helpful for newcomers who are just starting out in Canada.

  3. Building Canadian credit history: By making timely mortgage payments, newcomers can start to build their Canadian credit history and improve their credit score, which can help with future financial goals.

At Smart Start Management and Consulting, we understand that newcomers to Canada may face unique challenges when it comes to securing financing for a home. That’s why we work with a network of lenders who specialize in New to Canada mortgages and can provide tailored solutions to meet your needs. Contact us today to learn more about how we can help you achieve your home ownership goals.

Payal Business Centre
Unit 252 8138 128th st – Surrey, BC V3W 1R1

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Smart Start Management and Consulting

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