Buying a home in Canada is now easier for newcomers
Increased access to mortgage credit
In 2019, the Canadian government announced a $1.25 billion fund to help first-time homebuyers, which includes newcomers to the country. This fund is designed to make it easier for Canadians to access mortgage credit.
Down payment assistance programs
Some provinces in Canada offer down payment assistance programs that provide loans or grants to help first-time homebuyers, including newcomers, to purchase a home.
Immigration programs that facilitate homeownership
Some immigration programs, such as the Provincial Nominee Program, are designed to attract immigrants to specific provinces and territories and facilitate homeownership by providing support for homebuyers.
Mortgage brokers who specialize in helping newcomers
Some mortgage brokers specialize in helping newcomers to Canada navigate the home-buying process by providing guidance on credit scores, down payments, and other aspects of the home-buying process.
Information and resources for newcomers
The Canadian government provides information and resources for newcomers to Canada on its website, including information on the home-buying process and financial assistance programs that may be available.