01. Programs you can actually qualify for
Sagen, Canada Guaranty, and CMHC all offer newcomer programs. I'll match you to the one that fits your status, time in Canada, and down payment.
New here. Buying anyway.
Limited Canadian credit, foreign income, work permit instead of PR, savings that came from overseas - none of these are deal-breakers. Specialty newcomer programs exist for exactly your situation, and I know which lender to send your file to.
Canadian mortgages have their own rules, paperwork, and vocabulary. I'll walk you through every step at your pace.
Sagen, Canada Guaranty, and CMHC all offer newcomer programs. I'll match you to the one that fits your status, time in Canada, and down payment.
Most newcomers have thin Canadian credit. We can use international credit reports, landlord references, utility payment history, and bank statements.
Employment letter, pay stubs, and bank statements - I'll tell you exactly what each lender accepts, including foreign income deposited into a Canadian account.
Lenders want 90 days of paper trail on your down payment. If your savings came from overseas, we'll structure the documentation correctly.
Permanent residents have the most options. Work permit holders have fewer but real options. Each path is different.
Amortization, stress test, CMHC insurance - I explain it patiently, in plain English, for as many calls as you need.
CMHC, Sagen, and Canada Guaranty all have dedicated newcomer programs. Several A-lenders compete for this business actively.
5% min down (insured)
If you've landed and have PR status, you qualify for standard insured mortgage programs - same access as Canadian citizens.
5-10% min down
Sagen and Canada Guaranty offer programs for new PRs with limited Canadian credit. International credit reports accepted.
10-35% down
Several lenders work with work permit holders, depending on time in Canada and remaining permit length.
Bureau report req'd
We can pull an international credit bureau report and most lenders will treat strong international credit similarly.
PR family member
A co-signed application with an established Canadian family member opens up most A-lender programs immediately.
Foreign business history
Newcomers who ran businesses abroad can sometimes get credit for foreign business history.
“You don't need to wait three years to 'establish yourself' before owning. The right lender and the right program can have you in your own home in your first year here.”- Jeremy LaHaie
The biggest myth I hear from newcomers is that you have to wait three to five years before any bank will give you a mortgage. That was true once. It's not true now.
Today, every major mortgage insurer - CMHC, Sagen, Canada Guaranty - has a dedicated newcomer program, designed for solid jobs, real savings, and limited Canadian credit history.
What matters is matching you to the right lender. Not every bank participates in every newcomer program; some are aggressive in this space, some are quietly inactive.
If you're a permanent resident with a job, savings, and a story I can tell an underwriter, we'll find a way. Let's talk.
No minimum waiting period - you can buy on day one as a permanent resident. Work permit holders and international students have fewer but real options.
No, but it helps. We use international credit bureau reports, 12 months of rent/utility payments, and 90 days of bank statements as alternatives.
PR status: 5% on the first $500K, same as any Canadian buyer. Work permit holders: usually 10-35% depending on time in Canada and lender.
Usually no - lenders want Canadian-deposited employment income. Workarounds: wait 3-6 months of Canadian employment, use a co-signer, or a larger down payment.
Work permit holders and other temporary residents have real but more limited options, usually 20-35% down and 12+ months remaining on the permit.
PR card or work permit, passport, employment letter, pay stubs, NOAs if filed Canadian taxes, bank statements, and source-of-funds documentation.
Questions answered by Jeremy LaHaie, mortgage professional with INVIS Inc., serving Winnipeg, Ste Anne, Steinbach, and all of Southeast Manitoba. Call or text (204) 995-7336.