New to Canada


It’s a great time to buy your first home.


If you are new to Canada, CMHC and Genworth offer insurance financing so you can realize your dream of homeownership. Whether you have permanent or non-permanent residence status, you can access funding for a home.

How does the program work?
For newcomers with permanent resident status:

  • You can access all CMHC and Genworth Mortgage Loan Insurance products
  • If you have limited Canadian credit history and foreign credit bureaus are not accessible, CMHC and Genworth will accept alternative payment history documentation for loan-to-value ratios up to 95%
    For newcomers with non-permanent resident status:
  • You can access CMHC and Genworth financing up for a loan-to-value ratio of up to 90%
  • Financing must be for a one-unit, owner-occupied residential property
    There are no additional fees or premiums, and no minimum residency period is required to access these loans.

Benefits of program

Homeownership – Those new to Canada with permanent resident status can get a home with as little as 5% down payment

Low interest rates – Borrowers get access to CMHC insured financing that offers competitive interest rates

Accessible – Loans are available in every province and territory, and there is no maximum loan amount

Loans for non-residents
Non-residence lending allows Canadians who live overseas or non-Canadian citizens to purchase property in Canada. However, lenders in this program may have restrictions, and not all lenders offer this program.

Program requirements
Down payment – Borrowers must have a minimum of 35% for a down payment to participate in the program. The funds must be in a Canadian bank account. Proof of funds will need to be provided 90 days prior to financing. The money cannot be a gift but must be from the borrower’s own resources.

Income – A letter of employment will be required that confirms how long you’ve been with the company, details of your annual salary as well as bonuses. You’ll also need confirmation that you are not on probation at work. A recent paystub will also be requested with your application.

Credit – If you cannot use a Canadian Credit bureau, you’ll be allowed to use an international credit bureau or letter of reference from your bank. Some lenders may expect you to have funds equal to a year’s worth of rent payments secured in a Canadian bank account.

Contact me today, and let’s get you in your dream home!

Contact Us


Cell: 416-809-2196
Offfice: 905-264-8444

101 – 1 Director Court,
Woodbridge, ON L4L 4S5

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