New to Canada Mortgage in Toronto
The mortgage brokers at eMortgage Solutions help Canadian newcomers establish themselves as homeowners. We provide unmatched expertise and brokerage advice, locating products that are accessible and affordable for all clients.
You can count on our years of experience and expert recommendations. We can provide you with the support and guidance you need during your search for a home.
Reach out to us today at (416) 258-0156 to schedule a consultation and read further to learn more.
Can a Permanent Resident Get a Mortgage in Canada?
Certainly. Once you have received status as a permanent resident in Canada, nothing is stopping you from applying for a mortgage like any other Canadian citizen.
Permanent residency requires having been physically present in the country for at least two years. If you have not yet secured permanent residency, you can still be eligible for mortgages from many lenders. In these cases, you will need to have a valid work permit and have at least three months of full-time employment.
The mortgage brokers at eMortgage Solutions will be happy to give advice specific to your situation.
Who Is Considered a Newcomer to Canada?
A Canadian newcomer is typically considered one who has been in the country at least 3 months but not longer than 60 months (five years).
Can You Buy a House Without Extensive Credit or Employment History?
While a good history of both credit and employment in the country will significantly improve your chances of mortgage approval, it isn’t always necessary.
As long as you can prove your ability to put down at least 5% of the purchase price you can qualify for a mortgage. If you have a weak credit history you could provide supporting documentation such as regular savings for the past 12 months, an international credit report, or rental payments.
Based on basic financial information and residency status, we work hard to help newcomers obtain a mortgage.
What Incentives Are Available to Canadian Newcomers?
Several lenders offer special incentives available to newcomers to Canada. If you meet the requirements of eligibility, you may qualify for a mortgage with a competitive interest rate and a low-down payment.
eMortgage Solutions will present you with lenders offering these incentives. You can compare and contrast your various options to locate the best and most cost-effective plans.
If you are a Canadian newcomer in the Toronto considering purchasing a home, our team of mortgage brokers can help.
eMortgage Solutions Mortgage Brokers Can Help
A mortgage broker is your source for exploring the full extent of possibilities when you are thinking about buying a house. We provide you with impartial recommendations and advice, browsing through a vast variety of lenders on your behalf. It is our job to find you the best mortgage products and rates.
Each of our brokers has years of experience, credentials, and training. We compile all your information and assist with all aspects of the application process. Our brokers will get you closer to your dream of homeownership.
Contact our brokers today to receive more information or to schedule a consultation. We look forward to working together.