New to Canada?
You qualify for more than banks tell you.
Every Big 6 has a Newcomer Mortgage Program — but each has different underwriting, and most branch reps only know their own. Your foreign credit history, rental record, and visa status all move you between lender tiers. We route your file across the ones that actually fit.
- ✓ Foreign credit history accepted at select lenders
- ✓ ITIN-only lending path via B-lenders
- ✓ Full multilingual support in Hindi, Punjabi, Urdu, Mandarin
FSRA-licensed · Response in < 2 hours
5 years
window to use Newcomer Mortgage Programs
5%–35%
down payment range depending on visa status + credit
6
Big 6 banks with dedicated newcomer programs — each with different underwriting
Visa Status × Lender Pathway
Your status determines your lender pool
Permanent Resident (PR)
Full Newcomer Program access across all Big 6. 5% down on first $500k. Requires foreign credit report (Equifax International/Nova Credit) OR 12 months rental history. Best-case: A-lender pricing within 3 months of landing.
Work permit (2+ years remaining)
Newcomer programs at select A-lenders. 10–20% down typical. Requires local employer letter + pay stubs. Non-resident premium may apply.
Work permit (under 2 years)
Very limited A-lender options. Most files route to B-lender or newcomer-specialist lenders (Home Trust, Equitable). 20–25% down. Rate premium 100–200 bps. Common file for our broker channel — most either close at B-lender within 30 days, or hold and refinance to A-lender pricing within 6 months of PR grant. Bringing 30–35% down opens A-lender programs immediately.
Study permit
Limited to a handful of lenders with international student programs. 35% down is standard. Parent co-signer or PR parent guarantor unlocks better pricing.
Refugee / protected person
Standard Canadian mortgage rules apply once you have SIN + employment. Newcomer programs may or may not extend depending on lender — case by case.
Non-resident buyer (no visa)
Foreign Buyer Ban (extended through 2027) prohibits most residential purchases. Very narrow exemptions. Ask before you sign an APS.
4 Levers Most Branch Reps Miss
Any one of these can move your file up a tier
Foreign credit history acceptance
Some lenders (Scotia, RBC, Equifax International, Nova Credit) will pull your credit from India, Philippines, UK, US, etc. and use it in Canadian underwriting. Turns a "no credit" file into an "excellent credit" file overnight.
12 months rental history in lieu of credit
If you have 12+ months paying rent to a professional landlord in Canada, most lenders accept this as credit proxy. Documented rent payments + bank statements = credit substitute.
ITIN mortgages (Individual Tax Number)
Two B-lenders (Home Trust + one private) will lend on ITIN alone, no SIN. Rate premium ~200 bps. Useful bridge until PR-based SIN is available.
Higher down payment for better pricing
35%+ down unlocks A-lender pricing at lenders who would otherwise reject on credit or work permit tenure. If you have the cash abroad, moving it to Canada BEFORE applying dramatically opens options.
City-Specific Newcomer Broker Coverage
Where are you buying?
Questions you probably have
How soon after landing in Canada can I get a mortgage?+
Legally: immediately. Practically: most lenders want to see 3–6 months of Canadian employment + a Canadian bank account with visible pay deposits. If you're PR and landed with cash + a job offer, some lenders will fund within 30 days of your first pay deposit. Work permit files usually need 6+ months.
What if I have no Canadian credit history at all?+
Three paths: (1) Foreign credit pull via Equifax International or Nova Credit — works for India, US, UK, Mexico, Australia. (2) 12 months rental history from a professional landlord in Canada. (3) ITIN-only lending at two B-lenders — higher rate, but funds while you build local credit.
Am I subject to the Foreign Buyer Ban?+
The federal Foreign Buyer Ban (extended through Jan 2027) prohibits non-Canadian buyers from purchasing residential property in Canada. Exemptions: PR, temporary residents on work permits with 5+ months remaining meeting specific criteria, refugee claimants, international students meeting specific criteria. If your status is unclear, ASK before signing an APS — the penalties are severe.
Do I need to be a Canadian citizen to get a mortgage?+
No. PR and various work/study permit holders can get residential mortgages. Non-residents (no Canadian visa) largely cannot under the current Foreign Buyer Ban rules.
Can my foreign income count?+
Rarely, in standard A-lender underwriting. Most lenders require Canadian-source income for qualification. Some private + B-lenders will use foreign employment income at 50% discount. This is a case-by-case conversation — worth the 15-minute call.
What documentation should I have ready?+
PR card OR work/study permit. Passport. SIN (or ITIN if applicable). Last 3 months of Canadian bank statements. Last 2 pay stubs + employer letter. Any foreign credit report you can obtain. Landing paperwork (if PR). If self-employed, 2 years of foreign tax returns if available.
Related situations
Might also fit your file
First-time buyer programs
Newcomer programs stack with FTHB rebates (HBP, FHSA, LTT) — both apply if this is your first Canadian home.
Open playbook →
Declined by your Canadian bank?
Foreign credit acceptance + rental history proxy get files approved that a branch turned down.
Open playbook →
Newcomer rental buyer
PR-status investors accessing rental portfolios have a wider lender pool than most branches disclose.
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Your visa isn't a rejection letter.
Every status has a lender pathway. Get 15 minutes with a broker who's placed 100+ newcomer files.
Get My Newcomer Options →FSRA-licensed · Multilingual support · Response in < 2 hours