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Mortgages for Newcomers to Canada
If you’re new to Canada and ready to buy your first home, we’re here to help. As mortgage brokers in British Columbia, we specialize in helping permanent residents, work permit holders, and recently landed newcomers get approved for a mortgage. Whether you're employed locally or building your financial profile from scratch, we’ll guide you through every step of the mortgage process.
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Understanding New to Canada Mortgage Programs
Getting a mortgage in Canada as a newcomer can seem intimidating, especially if you don’t have a local credit score or long employment history. The good news is that many Canadian lenders offer specialized mortgage programs for newcomers like you.​
These programs allow eligible homebuyers to qualify using alternative documentation, international credit reports, or proof of stable or future income — even if you haven’t been in Canada long. As your mortgage broker, I’ll match you with lenders who understand your situation and are open to flexible criteria.
Who Can Apply for a Newcomer Mortgage in Canada?
You may qualify for a New to Canada mortgage if you fall into one of these categories:
You are a permanent resident ​​​​​​​​
You are working in Canada on a valid work permit
You are a returning Canadian citizen with limited credit history
Every lender has different criteria — but even if you don’t have a credit score or have been in Canada less than 12 months, you may still be approved.
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Newcomer Mortgage Requirements
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Your status in Canada (citizen, PR, work permit.)
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Proof of employment and income
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Down payment (typically 10% minimum)
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Alternative credit sources (rent payments, utilities, international credit reports)
Most lenders assess the following when reviewing a newcomer mortgage application:
We'll help you prepare the right documentation and find the best lender that fits your profile.
FAQs - Newcomer Mortgage in Canada
Can I get a mortgage in Canada without a credit score?
Yes. Many lenders allow newcomers to qualify using rent history, utility bills, international bank references, or employment income as credit alternatives. However, we recommend that you open a credit card with at least 2,000 credit limit.
How much down payment do I need as a newcomer?
Not always. Some lenders accept valid work permits, especially for professionals with full-time employment and a strong financial profile. Not having a PR in BC can incur in additional taxes.
Can I qualify if I've only been in Canada for a few months?
Do I need permanent residency to get approved?
Yes, depending on your job, income stability, and immigration status. I can help you assess your eligibility and prepare a strong application. Most lenders, prefer three months employment with the same employer.
You typically need at least 10% of the purchase price if your income is verifiable and you're applying through a high-ratio insured program. A larger down payment may be needed for non-insured options.
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Why Choose RefinanceBC?
Expert Support for Newcomers Buying a Home in BC
When you’re new to Canada, navigating the mortgage process alone can be overwhelming. As licensed mortgage brokers we represent you, not the bank. We’ll compare offers from multiple lenders, explain each step in your preferred language (English, French, or Spanish), and make sure your mortgage fits your goals.
Benefits of working with RefinanceBC:
Access to newcomer-friendly lenders
Step-by-step support from pre-approval to closing
Help with documents and building your credit profile
No cost to you — I’m paid by the lender
Trusted by hundreds of new Canadian families across BC
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Let's Make Your First Canadian Home a Reality
You’ve made the move, now let’s turn it into a foundation.
I’ve helped many newcomers just like you get approved, move into their first home, and start building equity.​
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Book Your Free Mortgage Consultation
and take the first step with expert support tailored to your needs.