Congratulations! You’ve decided to move or are looking at moving to Canada!
If you’re new to Canada and looking to purchase a home, Mortgage Suite is here to help.
We understand that the process of obtaining a mortgage can be overwhelming, especially if you’re not familiar with the Canadian housing market. Our team of licensed mortgage professionals is dedicated to helping new Canadians navigate the mortgage process and find the best solution for their needs.
When applying for a mortgage as a new Canadian, there are a few things to keep in mind.
First, you will need to provide proof of income and employment. This may include pay stubs, a letter from your employer, and/or your income tax return. Additionally, you will need to provide proof of your down payment, which is typically 20% of the purchase price of the home.
At Mortgage Suite, we value diversity and are proud to offer a mortgage program that caters to newcomers to Canada. Our mortgage industry insurers have developed an outstanding product that reduces the required down payment when buying a home in Canada. With this program, you can purchase your own home in Canada with as little as 5% down, and in some cases, even 10%.
We understand the challenges and expenses that come with moving to a new country, and we want to help ease that burden by allowing you to keep more money in your pocket for a down payment.
Another important factor to consider is your credit score. In Canada, credit scores are used to determine your creditworthiness and can affect the interest rate you qualify for on your mortgage. It is a good idea to check your credit score before applying for a mortgage, and if necessary, take steps to improve it. Learn more about how to build/fix your credit score here.
Our team of licensed mortgage professionals will work with you to find the best mortgage solution to fit your needs and budget. Don’t let the mortgage process hold you back from owning your own home. Contact us today to start the process and find the best solution for you.
