New to Canada Mortgage Toronto

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New to Canada Or Looking for Newcomers Mortgage?


The supporting documentation needed to get a mortgage, the down payment required, and the applicable interest rate for New to Canada Mortgages is dependent on permanent residency status. If you are a permanent resident (or you have a work permit and you have submitted an application for permanent resident) and you have a good credit rating, you can pay as little as 5% interest rate which is the typical mortgage rate.
If you are not a permanent resident, the down payment is 10%. If you do not meet this and other qualification criteria, you can still get mortgage default insurance through a New to Canada Program by the CMHC (Canada Mortgage and Housing Corporation), Canada Guaranty, or Genworth Financial.


Mortgage Offers
pick the one thats right for you.
  • get
    $ 2,000
    on purchase over
    $500, 000
  • Receive
    $ 1,400
    when you transfer
    your mortgage of over $500,000
  • complimentary
    12 months
    Home service plan
    fint out more

The 3 insurance providers have similar requirements. We will ensure you abide by the requirements to increase the chances of your application going through. Other than the permanent residency requirements that dictate the applicable down payment, other requirements include:
  • Proof of landed immigrant status or a valid work permit
  • Proof of income (pay stubs or employment contract)
  • Proof of 12-month rental payments and/or a letter confirming tenancy from your landlord
  • Proof of payments towards utilities, insurance, communications and/or confirmation letters from different service providers
  • A letter of reference from a financial institution such as your bank
  • Bank statements going back several months
  • Documents showing your savings for the past 12 months
  • International credit report/your debts outside Canada
  • Purchase and sale agreement for proof of the location and value of your home
Featured Rates
Fixed
  • Lender
  • Rate
  • Term
  • Toronto-Dominion
    2.34%
    5 years
  • Scotiabank
    2.39%
    2 years
  • CMLS
    2.29%
    3 years
  • RFA
    2.44%
    5 years
  • First National Bank
    1.99%
    4 years
  • DUCA
    1.98%
    2 year
  • B2B
    2.84%
    2 years
  • Meridian
    2.19%
    5 years
  • RMG Mortgage
    2.29%
    5 years
  • Manulife Bank
    2.14%
    5 years
Variable
  • Lender
  • Rate
  • Home Trust
    4.49%
    5 years
  • Mcap
    2.15%
    5 years
Other
  • Type
  • Rate
  • Secured line of credit
    2.95%
  • Private mortgages
    5.99%
Questions?
We Are Here to Help


A lender wants to determine if you are capable of making monthly repayments. We will help you gather and organize this information to streamline the application process and to win the confidence of potential lenders. We will advise you on the intricacies of Canadian mortgages. As an example, you should note that if you can afford 20% of the purchase price in down payment, yours will not be a high-ratio mortgage and you will not need mortgage default insurance, which reduces your monthly premiums. We will also advise you on how to save for the down payment, how to complete the mortgage pre-approval, and even refer you to a good realtor to help you find a home if you haven’t already. If your credit score is very poor, you may fail to get a mortgage from a mainstream lender (a bank or a credit union). In such a case, you need not worry because we have a good working relationship with private mortgage lenders. Although their rates are higher (since they are assuming a greater risk), we will negotiate on your behalf to bring the rates as low as possible. Whoever the lender is, we will negotiate for the reduction and even removal of different fees


Purchase or Refinance
for a free consultation
What our CLients Say
Customer Testimonials
  • Avatar Boyd Wehner ★★★★★
    I used Nick to renew my mortgage. He found me a better deal than my bank could offer and I intend to use him again the next time I need to renew. Nick did all the work, he made it easy and simple for me. He really knows his stuff!
  • Avatar Nicole B. ★★★★★
    I have been dealing with Masoud for my first mortgage back in 2016 and my second mortgage in 2019. He has always been of great help and easy access. He is the first person I go to with regards to mortgage questions. Keep up the good work guys!!
  • Avatar kit cathe ★★★★★
    Working with Masoud was a great experience. We learned about mortgage options that were new to us as we were first-time buyers. Knowledgeable and helpful with no pressure, we were able to make an informed decision that worked out very well for our needs.
  • Avatar David Smith ★★★★★
    I can't recommend Masoud enough if you need a mortgage, a renewal, or even help getting to that point. He is extremely knowledgeable and resourceful and works incredibly hard for his clients! He’s done our first mortgage in 2014, refinance in 2028 and now our second mortgage this winter.
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