Newcomers to Canada

HomeNewcomers to Canada
  • Permission to work in Canada and a valid work permit (additional requirements may apply)
  • Permanent residency status
  • Refugee status or temporary worker status (additional requirements may apply)

No matter which bank you’re currently with, when you move to Canada, there may be opportunities to find a mortgage with another lender that could save you more money. We handle negotiations with banks and lenders on your behalf, ensuring you get the best deal possible.

If you have permanent residence status (subject to federal eligibility), you can purchase a home with as little as a 5% down payment, although home price restrictions may apply.

For individuals with non-permanent residence status, a minimum of 10% down payment may be required.

With a down payment of less than 20%, mortgage default insurance may be necessary. However, having this insurance could also help you qualify for a better interest rate.

Navigating the home-buying process as a newcomer can feel overwhelming, but we’re here to guide you every step of the way. Let’s work together to turn your dream of homeownership in Canada into a reality!

New to Canada Program

Newcomers with permanent resident status have access to all CMHC mortgage insurance products subject to specific eligibility requirements.

For permanent residents with limited Canadian credit history and unavailable foreign credit bureaus, alternative sources of payment history may be considered for Loan-to-Value (LTV) ratios up to 95%.

Newcomers with non-permanent resident status, subject to federal eligibility requirements, may access insured financing of up to 90% Loan-to-Value (LTV) ratio for the purchase of a 1-unit, owner-occupied residential property.

There are no additional fees or premiums as a result of residency status. Standard product-specific premiums apply for all applicants.

Here are the features of the Newcomer Mortgage Programs that aim to provide newcomers with accessible and flexible mortgage options, ensuring a smoother transition into homeownership in Canada.

  • Multiple mortgage solutions including debt consolidation
  • Apply anytime online or in person at Benson Mortgages office
  • Honest, unbiased and inclusive
  • Always free and transparent advice
  • In Operation Since 2012
  • Access to 170 lenders across Canada
  • Over $3 Billion in Funded Mortgages
  • Access to In-house Private Funds
  • Turn around time 24-48 Hrs
  • Quick, Easy and Secure
  • Get Pre-Qualified in Minutes
  • Emergency financing and bridge loans
  • Commercial Loans
  • Improve Your Credit Score
  • Need $ Within a Week?
How much are you looking to borrow?
Call or use our online form to submit a mortgage inquiry. We look forward to working with you!
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