Mortgage Professor
New to Canada Mortgages in Ontario
You don't need years of Canadian credit history to buy a home. Newcomer programs are designed for people exactly like you.
You don't need years of Canadian credit history to buy a home in Ontario. Major Canadian lenders run dedicated Newcomer programs designed for permanent residents and qualifying work permit holders who arrived in Canada within the past 5 years.
At Mortgage Professor, our team helps newcomers navigate the documentation, the alternative credit verification (international credit reports, reference letters, rent payment history), and the right lender match. We understand that your financial history didn't start when you landed in Canada.
With access to CMHC Newcomer, Sagen New to Canada, and Canada Guaranty Newcomers programs, we find the path that gets you into home ownership with as little as 5% down as a permanent resident. Welcome to Canada — and welcome to home ownership.
Quick Facts
Understanding Your Options
What is a New to Canada Mortgages?
New to Canada mortgages are special lender programs for borrowers within 5 years of arrival in Canada. These programs recognize that newcomers may not have traditional Canadian credit history and provide alternative paths to qualification.
Insured Newcomer Programs
CMHC, Sagen, and Canada Guaranty all offer newcomer-specific programs. These allow insured mortgages (5-19.99% down) using alternative credit verification: international credit bureau reports, 12 months of rent and utility payment history, and letters of reference.
Permanent Residents vs. Work Permit Holders
Permanent residents have more options: 5% minimum down payment, access to all newcomer programs. Work permit holders typically need 10% down and a permit with 24+ months remaining. Both can qualify for standard mortgage rates.
International Credit History
Many lenders accept credit reports from your home country. Major credit bureaus have international partnerships that can retrieve your credit history from dozens of countries.
“Your home equity is a powerful financial tool. Let us help you use it wisely.”
The Process
How It Works
Status Confirmation
Permanent resident, work permit, or refugee status verified to determine program eligibility.
Alternative Credit Build
International credit reports combined with Canadian rent/utility payment history.
Newcomer Program Match
CMHC, Sagen, or Canada Guaranty program selected based on your specific situation.
Approval & Close
Down payment as low as 5% for permanent residents, 10% for work permit holders.
Key Benefits
Why Choose This Option
5% Down for Permanent Residents
Access the same low-down-payment insured mortgages available to Canadian-born buyers.
10% Down for Work Permit Holders
Qualifying work permit holders (24+ months remaining) can buy with just 10% down.
Alternative Credit Accepted
No Canadian credit? Use international credit reports, rent history, and utility payments.
Standard Mortgage Rates
Newcomer programs offer the same competitive rates as traditional mortgages — no premium.
Multilingual Support
Our team and lender network provide support in multiple languages throughout the process.
Family Gift Down Payment
Down payment gifts from family are accepted with proper documentation of non-borrowed funds.
Eligibility
Who Qualifies
Newcomer mortgage programs have specific eligibility criteria based on immigration status and time in Canada. Documentation requirements vary by program.
Typical Requirements
- Permanent resident, valid work permit (24+ months preferred), or convention refugee status
- Within 5 years of arrival in Canada
- Verifiable income (Canadian employment preferred; foreign income case-by-case)
- Down payment from own resources or family gift (verified non-borrowed)
- International credit history or 12+ months Canadian rent/utility verification
Not sure if you qualify? Get a free assessment.
Questions & Answers
Frequently Asked Questions
Request Your Free Consultation
Share a few details about your situation and our team will reach out within one business day. No obligation, no pressure — just expert advice tailored to your needs.
Explore Other Solutions
Find the right mortgage product for your needs
Speak with a Professor
Schedule a complimentary 30-minute consultation with our team. We'll review your situation, walk you through the options, and outline a path forward — no obligation.
Or call 647-955-9400
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