Home / New to Canada
New to Canada · British Columbia
Buying a home when you are new to Canada
You don't need years of Canadian credit to buy a home. Newcomer programs from several lenders help permanent residents and work permit holders get started.
Service in English, Punjabi and Hindi · ਪੰਜਾਬੀ · हिन्दी
Who it helps
Newcomer mortgage programs
- New permanent residents, usually within the first five years in Canada.
- Work permit holders with steady employment in Canada.
- Short Canadian credit history: some lenders accept other proof, such as rent and utility payments or an international credit report.
What you need
Documents and down payment
- Proof of status (PR card or work permit) and a job letter with recent pay stubs.
- Down payment: as little as 5% may be possible on an insured mortgage, depending on your situation; some programs ask for more.
- Money from abroad is fine, but lenders want to see where it came from and that it has been in a Canadian account for a while.
Tips
Start building credit now
Get a Canadian credit card, use a small part of the limit and pay it in full every month. Keep records of rent and bills. Talk to me early, before you house hunt, so you know what lenders will need.
Questions
Frequently asked questions
Can I buy a home on a work permit?
Yes, many lenders have programs for work permit holders. The rules depend on how long your permit has left and your job.
Can I use money from my home country?
Yes. Plan ahead: lenders want proof of where the money came from and usually want it in a Canadian account for some time before closing.
Are there rules for non-Canadians buying homes?
Federal rules restrict some foreign buyers, with exceptions, for example for many work permit holders and all permanent residents. I will check what applies to you.
New to Canada and ready to buy?
Let's check your options and the documents you'll need. Service in English, Punjabi and Hindi.