To buy a home for those who are new to Canada

[Winfred01]

If you have recently moved to Canada and want to buy a home, you must know the following things:

Down payments: Depending on the lender, you may need a larger down payment because you could be perceived to be a higher credit risk

Employment and credit history: If you are brand-new to Canada, you probably haven't had much time to establish a long credit or employment history here. Some banks will accept a 35 percent down payment for those who have been in Canada for less than five years and have yet to establish employment sufficient for the mortgage they are seeking.

Property Transfer Tax: Property transfer taxes may work differently from your home country, so make sure you do your homework and budget accordingly.

But, nothing to worry! There are professionals offering a mortgage for newcomers in Canada. They could help those who are new to Canada get the best mortgage by completing all the formalities. And it is important to choose the best from all the available ones!