Question 1

Can I get a mortgage without Canadian credit history?

Accepted Answer

Yes. Newcomer programs may accept foreign credit reports, rent payment history, and proof of savings instead of a long Canadian credit record.

Question 2

How much down payment do newcomers need?

Accepted Answer

Many newcomer programs start at 5% to 10% down for permanent residents. Work-permit holders may need more. The amount depends on the lender and program.

Question 3

Do I need a job in Canada to qualify?

Accepted Answer

Most lenders want to see Canadian employment, though probation periods are often acceptable. Some programs consider strong savings and professional job offers.

Question 4

Can work-permit holders buy a home?

Accepted Answer

Yes, in many cases. Lenders look at the length of your permit, your job, and your down payment. We match you with lenders that finance non-permanent residents.

Question 5

How can I build Canadian credit quickly?

Accepted Answer

Open a Canadian bank account and a credit card, keep balances low, pay on time every month, and avoid applying for too much new credit at once.

Question 6

How is the right lender selected?

Accepted Answer

We compare lender fit, rate, fees, terms, repayment flexibility, property requirements, and your exit plan—not only the advertised rate.

Question 7

Is approval guaranteed?

Accepted Answer

No. Every approval is subject to lender underwriting, property review, supporting documents, and final conditions.

Question 8

What documents will I need?

Accepted Answer

Requirements vary, but commonly include identification, income records, bank statements, mortgage statements, property documents, and consent for a credit review.

New to Canada Mortgages

Quick answer: new to Canada mortgage

How new to canada mortgages work with Altafina Capital

New to Canada Mortgages — FAQs