Mortgages for People New to Canada are designed to help newcomers understand the Canadian real estate market and all associated costs. This includes providing guidance on closing costs and adjustment costs. The goal is to help these individuals build equity rather than paying rent, taking advantage of employment and credit sources. The program also aims to find the best rates and mortgage options for newcomers interested in higher loan amounts, such as over $1 million. With at least a 20% down payment saved, there is more flexibility when it comes to the down payment, with options as little as 5% down. Additionally, the program offers information on homebuyer incentive programs and down payment assistance options. The program partners with various top lenders in Canada, including large banks, mortgage finance companies, credit unions, and alternative financiers, to provide custom-tailored mortgage products that fit individual needs. Access to innovative tools also ensures an efficient first-time home buying experience.