New to Canada? We'll Help You Get Home.
Canada welcomes you, and so do our lenders. We specialize in mortgage programs designed for newcomers with limited Canadian credit history and employment records.
Who Qualifies
Newcomer Mortgage Eligibility in BC
Whether you arrived last month or last year, there are mortgage programs available for newcomers to Canada. Here are the immigration statuses we work with regularly.
Permanent Residents
Landed immigrants with PR cards qualify for the widest range of mortgage programs. Many lenders offer the same rates as Canadian citizens with as little as 5% down.
Work Permit Holders
Valid work permit holders with Canadian employment can qualify for competitive mortgage rates. Some lenders require as little as 3 months of Canadian employment history.
Refugees & Protected Persons
Convention refugees and protected persons with valid documentation can access newcomer mortgage programs. We work with lenders who understand your unique situation.
International Students
Full-time international students enrolled at recognized Canadian institutions may qualify with a co-signer or with sufficient down payment and proof of financial support.
Programs Available
Newcomer Mortgage Programs in BC
Our 30+ lender partners include several with dedicated newcomer mortgage programs. These programs are designed to accommodate limited Canadian credit and employment history.
New to Canada Purchase Program
Major banks and credit unions offer dedicated purchase programs for newcomers who have been in Canada for less than 5 years. These programs accept international credit history, foreign income documentation, and offer competitive interest rates comparable to standard mortgage products.
International Income Qualifying
Some lenders allow newcomers to qualify using a combination of Canadian and foreign income. This is ideal for professionals who are transitioning their career to Canada and have not yet reached their full Canadian earning potential.
Non-Resident / Foreign Buyer Programs
For those who have not yet moved to Canada but want to purchase property in BC before arriving. These programs typically require 35% down payment and may have rate premiums, but provide a path to home ownership before landing.
Credit Builder Mortgage
For newcomers with no Canadian credit history at all, some lenders will approve a mortgage based on a larger down payment, verified international credit references, and a strong letter of employment. This helps you build Canadian credit from day one.
Documents Needed
What to Prepare
Documentation requirements vary by lender and immigration status. Here are the common documents newcomers to Canada need for their mortgage application in BC.
Down Payment
Down Payment Requirements
Down payment requirements for newcomers depend on your immigration status, time in Canada, and the lender program. Funds from overseas are accepted with proper documentation.
Same as Canadian citizens. CMHC insured for purchases under $1M with less than 20% down.
Most lenders require 5-10% down. Some insured programs available depending on permit duration.
Higher down payment required. Co-signer or guarantor may reduce the requirement to 20%.
Foreign buyer restrictions may apply in BC. Additional taxes and regulations for non-residents.
Welcome to Canada. Let's Find Your Home.
Free mortgage consultation for newcomers to Canada. We speak your language and understand your journey. Serving Richmond, Vancouver, and all of BC.