Project Options
Explore mortgage paths whether you’re a permanent resident, recently arrived, or still building your credit in Canada.
Credit Friendly Options
We offer mortgage programs specifically for newcomers with limited or no Canadian credit history.
Flexible Loan Terms
Find manageable repayment terms suited to your unique financial situation as a new resident.
Quick Approval Process
From program matching to mortgage approval, we help you move forward quickly and clearly.
Struggling to Understand Mortgage Options in a New Country?
Support for Newcomers Buying Their First Home in Canada
Moving to a new country is a huge transition—and buying a home here is one of the biggest financial steps you’ll take. Fortunately, getting a mortgage in Canada is possible with the right preparation and support.
Whether you’re a permanent resident, working toward PR, or building credit from scratch, we’ll help you explore your eligibility and match you with mortgage programs that make homeownership achievable.
Apply now and connect with a Powerhaus Mortgage Professional to start your homeownership journey.
Certified Team
Our mortgage professionals specialize in helping new Canadians qualify for the right programs and secure the right loan.
Trusted Company
Thousands of new Canadians trust us to guide them through their first mortgage in Canada.
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Flexible Financing Options
Fast, Clear Approvals for New Canadians
Canadian mortgage requirements can be complex—especially when navigating immigration status, credit history, or employment type. Our team makes it easy for new Canadians to understand what’s needed and how to qualify.
From PR status to B-Lender options, we help you take the next step toward homeownership with confidence, clarity, and the right documentation.
Apply now and let us help you feel at home in Canada.
Frequently Asked Questions
Yes! Whether you're a permanent resident or still working toward status, there are mortgage programs and lender options available to help you buy your first home.
You may qualify for a standard mortgage with just 5% down if:
You’ve relocated to Canada in the past 60 months
You have PR or a valid work permit
All foreign debts are included in your debt servicing ratio
The home will be owner-occupied
Guarantors are not allowed
Rental income from outside Canada is excluded from your application
If you don’t yet have an established Canadian credit score, you may still qualify through a “New to Canada” program by providing:
6 months of primary Canadian bank statements or a letter of reference from a financial institution (for 90% financing)
An international credit report (Equifax or TransUnion) or
12 months of documented, on-time alternative payments (e.g., rent, utilities, phone, insurance)
Programs from CMHC, Sagen™, and Canada Guaranty specifically support newcomers. They typically require:
Arrival in Canada within the last 60 months
Minimum 3 months of full-time Canadian employment
Additional documentation for higher-ratio mortgages
If you don’t qualify through mainstream banks, B-lenders or Mortgage Investment Corporations (MICs) offer options with less stringent credit requirements. These require at least 20% down and are ideal if you:
Are self-employed
Have low/no credit
Have CRA arrears
Have non-traditional income or past bankruptcies
Need unique or flexible mortgage terms
Depending on your situation, lenders may ask for:
Proof of income/employment
Proof of rent payments (12 months)
Bank statements
Letter of reference from a financial institution
Documented savings
Proof of PR or valid work permit
Start with a secured credit card and pay off the balance monthly. Always pay rent, utilities, and phone bills on time. Over time, this will improve your credit score and mortgage eligibility.
It depends on the home price and your residency status:
If the home is under $500,000, the minimum down payment is 5%
For homes above $500,000, it's 5% for the first $500,000 and 10% on the remaining amount
Alternative lenders require 20% minimum down
Navigating programs, rates, and lenders can be overwhelming—especially as a newcomer. A mortgage expert ensures you understand your options, helps you secure the best rate, and makes sure your documents are ready.