Purchases… our favourite type of Mortgage transaction! There is nothing more exciting to see than a Client who is purchasing their first new Home.
You may have lots of questions, but we are here to answer every single one of them, no matter what they are. There is a lot to go with buying a new Home, and unless you are on the Mortgage side of the fence, it can all seem overwhelming and convoluted. Our job is to clearly explain all the components until you feel comfortable with the answers. This is how we know we are doing our job right!
Worry Free Mortgage also has a great deal of experience helping new to Canada families get into their first Home.
If you are new to Canada, you can still obtain a mortgage with as little as 5% for your down payment.
We work with multiple Lenders that have specific Mortgage products that cater to this specifically, and the steps are no different than someone who is buying their second Home. The only variance is a few of the required documents will be in a different format.
Here are a couple of main highlights for a New to Canada Mortgage Product:
- There is no minimum period of residency required for some new to Canada programs.
- We can utilize ‘alternative credit’ for new to Canada files where credit history may not be well established. We can get you a mortgage even if you are not a permanent resident, provided you have a valid work permit and 10% for your down payment. Some established credit will also be needed in this type of situation.
Even if you aren’t in the position to purchase a Home today, our Mortgage Agents can work with you to build a plan to work towards becoming a Homeowner. There is ABSOLUTELY NO COST TO YOU for this either, and we are happy to work alongside you to make this dream become a reality.
