Many newcomers assume they need years of Canadian credit history to buy a home. In reality, several lenders offer newcomer programs built for exactly this situation — and we know how to use them.
New to Canada at a glance
Guide
Canadian credit history
Status
Down payment
Foreign savings
*Depends on your situation, the property and lender or program rules.
Clear communication at every step, so you always know what's happening next.
We learn about your status, work, savings and goals.
We list exactly what you'll need, including records from abroad.
We find a newcomer program that fits your situation.
We help you close and set up a plan for your next renewal.
A few key points we'll walk through with you before you make any decisions.
Permanent residents and work-permit holders may qualify for different programs and down payment levels.
Lenders need to see where your down payment came from, usually with 90 days of account history. Funds from abroad should be moved early.
Canada currently restricts some non-Canadians from buying residential property. We'll confirm whether any exemptions apply to you.
Don’t see your question here? Give us a call — we’re happy to talk it through.
Often, yes. Some programs accept alternative proof like rent payments, utility bills or a credit report from your home country.
Many lenders look for at least three months of full-time work in Canada, but requirements vary.
Gifted funds from immediate family are usually accepted with a signed gift letter and proof of the transfer.
This page is for general information only and isn’t financial advice. Mortgage rules, program limits and lender requirements change and depend on your situation; all financing is subject to lender approval. Koru Financial Group Inc. — FSRA Brokerage #12726.