Secure a Mortgage as a Newcomer in Ontario
A newcomer mortgage is designed to help new immigrants or residents in Canada buy their first home. Lenders provide such programs to support newcomers who may not have a credit history in Canada. Newcomer mortgages work similarly to regular mortgages but are more accommodating toward the unique circumstances of new immigrants or recent residents. They allow for a variety of documentation to prove creditworthiness, including foreign credit reports or non-traditional sources of credit.
Eligibility Criteria for Newcomer Mortgages in Ontario
To be eligible for a newcomer mortgage, there are certain criteria you need to meet. Firstly, you should have been a resident of Canada for no more than the past 5 years, and you need to have a valid work permit or be a landed immigrant. Proving your income is important, and for that, you need to be employed full-time in Canada for at least three months, unless your current employer is the one facilitating your move to Canada.
Why Choose Enrich Group
When it comes to navigating the Canadian mortgage landscape as a newcomer, Enrich Mortgage Group is your trusted ally. We understand the unique challenges newcomers face when seeking to buy a home in Canada.
Our experienced team offers personalized mortgage solutions to fit your needs, helping you understand all aspects of the process. By choosing Enrich Mortgage Group, you gain a dedicated partner in your homeownership journey. Reach out to us today for expert guidance on your newcomer mortgage in Ontario.