Newcomers to Canada
New to Canada? You can still qualify for a mortgage — even without Canadian credit history. We help newcomers buy their first home.
Canada welcomes hundreds of thousands of new residents each year, and many are eager to put down roots by purchasing a home. Limited Canadian credit history is not a barrier to homeownership when you work with Calgary Mortgage Shoppe. We have helped countless newcomers — permanent residents, temporary foreign workers, and international students — secure competitive mortgage financing.
Why Choose Calgary Mortgage Shoppe?
- Mortgage programs for permanent residents and TFW holders
- As little as 5% down with CMHC newcomer program
- Alternative credit references accepted (no Canadian history needed)
- Foreign income considered by select lenders
- Multilingual service available
- International credit bureau reports accepted
- Guidance on building Canadian credit fast
- No-cost consultation u2014 we explain every step
Frequently Asked Questions
Can I get a mortgage without a Canadian credit score?
Yes. Many lenders have newcomer programs that accept alternative credit documentation, including credit bureau reports from your home country, international bank statements, and rental payment history. We will identify the best lender for your specific situation.
How long do I need to live in Canada before I can get a mortgage?
Permanent residents can apply for a mortgage as soon as they have employment in Canada u2014 many lenders require a minimum of 3 months of Canadian employment. Work permit holders have more specific requirements around permit validity.
What is the minimum down payment for newcomers?
Through the CMHC newcomer program, eligible permanent residents can purchase with as little as 5% down for homes priced under $500,000. For higher-priced homes or temporary residents, larger down payments (typically 10u201335%) may be required depending on the lender.
Can my family send money from abroad for my down payment?
Yes, gifted down payments from family members are generally accepted. The funds must be in your Canadian bank account for a minimum of 90 days (some lenders require less), and a signed gift letter is required confirming the funds are a non-repayable gift.
I am on a work permit u2014 can I buy a home?
Yes, work permit holders can qualify for a mortgage with certain lenders. Key factors include the remaining validity of your permit, employment stability, and down payment amount. Non-permanent residents may be subject to the Foreign Buyer Ban restrictions in some markets u2014 we will advise you on applicability.