NEW TO CANADA MORTGAGES IN CALGARY
Are you new to Canada and Calgary and are looking to obtain your first mortgage approval?
Clients that are new to Canada will have access to a variety of solutions from a variety of situations. Whether you are a newly landed immigrant on a work visa, or if you are an employed and have obtained permanent residency, or you are someone who has been granted landed immigration status and has not secured a position but have applied for roles, or have permanent residency, we have catered options specifically tailored to your mortgage needs!
Our goal with Calgary Mortgages is to provide new immigrants to Canada the best and most informative journey by matching you with agents that have experience with home buyers who are new to Canada, ensuring that all of your personal and specific needs are taken care of.
Some Of The Lenders Our Mortgage Brokers Work With and banks we have relationships with.
Did You Know About our special newcomers to Canada Program?
This new program was developed to help lower your monthly mortgage payments in an effort to assist first time home buyers in Calgary. This initiative provides Calgary first time home buyers with an equity shared interest in a property payment free mortgage loan on top of their regular mortgage. This loan given would be IN ADDITION to the minimum 5 % down payment that is required to purchase your property. Please note, that the total borrowing power for consumers that fall under this program is limited to a maximum of 4 times the applicant’s annual income.
LOWEST RATES
Experienced Agents
No Charge or Money out of your pocket!
Highly Reviewed
Not tied or forced to work with any specific lenders
World class service and systems
FAQ
FOR NEW TO CANADA HOME
BUYERS IN CALGARY
I've heard newcomers to Canada can't get a mortgage from a big 5 bank, is that true?
Fear not, you’re definitely not the first to ask this, nor will you be the last. There’s often a large misconception about this, and it’s simply not true, the large Canadian banks understand you and your families needs and they have special products that are designed and developed around newcomers to Canada. Our team of Calgary mortgage professionals is here to ensure that all of your needs as a new visitor to Canada are takeen care of!
Without a long standing credit score, I'll always be without a mortgage?
This is not the case! Some of our lenders, including the big banks will work with newcomers to Canada as long as they are able to meet eligibility requirements even with a limited credit history.
I don't have two years of Canadian employment history, will I have to wait?
In most situations, Canadians would have to demonstrate two years of employment history to qualify for a mortgage by lenders in Calgary. Our mortgage brokers are partnered with lenders who know how to navigate your situation and offer products and programs that are tailored for newcomers to Canada who aren’t able to meet the traditional employment tenure of two years that’s normally required.
Is a down payment required in Calgary for a mortgage?
The down payment is a portion of the total purchase price of a home that you have purchased. The down payment represents the amount of money that you’ll be giving to your lender, upfront, at the time you take ownership of the home. This will be part of, or in full, the deposit you put down in your offer to purchase.
Can you lock in an interest rate for me?
Yes! With our lenders who specifically work with newcomers to Canada, we’ll be able to lock in your rates for up to 120 days!
How many years can I obtain a mortgage for?
This will ultimately depend on your situation, you’ll be eligible for the standard offerings of amortization, and most clients will ultimately opt for a 25 year term. The longer your term, the lower your monthly payments, however the longer the term, the more you’ll pay in interest!