You don’t need years of Canadian history to own a home. Here’s how newcomers get approved — and exactly what to have ready.
Newcomer programs let many new permanent residents and work-permit holders buy with as little as 5% down — even with little or no Canadian credit history yet.
1. Get pre-approved. We check what you qualify for and match you with lenders that welcome newcomers.
2. Gather your documents. A short, specific list — see below. Having it ready speeds everything up.
3. Find your home. Shop with confidence knowing your budget and that financing is lined up.
4. Final approval and close. We guide the paperwork through to keys in hand.
The tax-free FHSA is for “first-time buyers.” If you owned and lived in a home abroad in the last four years, you may need to wait to qualify. Ask me and I’ll check your situation.
No. Many lenders also work with valid work-permit holders. The exact requirements vary by lender, so it’s worth getting pre-approved to see your real options.
Some lenders will accept 12 months of alternative history, such as rent, phone, or utility payments, instead of a traditional credit score. A reference letter from your home-country bank can help too.
As little as 5% on homes up to $500,000, the same federal minimum as any other buyer, provided you meet the lender’s newcomer criteria.
Yes, but keep a clear paper trail of the transfer. Lenders will typically ask for proof of where the funds came from.
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