New to Canada Mortgages in Toronto
A mortgage program built for people who just got here.
Major Canadian lenders offer newcomer mortgage programs designed for permanent residents and many work-permit holders, even with limited Canadian credit history. A broker matches your status, income, and down payment to the lender most likely to approve.
Who this is best for
- Permanent residents within 5 years of landing
- Work permit holders with Canadian employment
- Skilled professionals relocating to Toronto
- Buyers with international assets and Canadian income
How a Toronto mortgage broker helps
- Identifies lenders accepting your immigration status
- Uses international credit reports where accepted
- Documents foreign assets and gifted down payments
- Coordinates with your employer for letters and pay confirmation
What lenders typically look at
- Valid PR status or eligible work permit
- Canadian employment and SIN
- Minimum down payment per program (often 5–35%)
- International credit reference where permitted
Documents you'll likely need
- Passport and PR card / work permit
- Canadian SIN
- Pay stubs and employment letter
- Down payment confirmation (90-day history or gift letter)
- International credit reference where available
A Toronto example
Work-permit professional, downtown condo
A two-year work-permit holder employed by a Canadian employer with 20% down is reviewed under newcomer programs that accept eligible non-PR status, subject to lender-specific rules.
Frequently asked questions
+Do I need PR to get a mortgage?
No — many lenders approve eligible work-permit holders. Programs and minimum down payments vary by lender.
+Do I need Canadian credit history?
Not always. Some lenders accept international credit reports or alternative credit (rent, utilities) for newcomer files.
+How much down payment do I need as a newcomer?
PRs often qualify with as little as 5%. Work-permit holders typically need 10–35% depending on the lender.
+Can my down payment come from abroad?
Yes, with proper documentation showing source of funds and a 90-day Canadian deposit history.
Related
This website does not guarantee any mortgage rate, approval, or product. We do not provide mortgage advice on this website. All mortgage transactions are handled by the licensed brokerage identified on this site, in accordance with FSRA requirements.