New to Canada
Are you new to Canada and looking to purchase a home? Rare Mortgage Lending Co. is here to help our clients through this journey. We explain all the requirements, show you all the options available, and ensure the best qualifying rates.
Features of Newcomer Mortgage Programs
- Newcomers with permanent and non-permanent resident status have access to all three mortgage default companies (CMHC, Sagen, and Canada Guaranty) allowing them to qualify for insured mortgage financing.
- Newcomers with permanent residents can obtain insured financing up to 95% Loan-to-Value for the purchase of a 1-unit, owner-occupied residential property.
- For permanent residents with limited Canadian credit history and where foreign credit bureaus are not available, other sources of payment history can be considered for Loan-to-Value ratios up to 95%.
- Newcomers with non-permanent residents can obtain insured financing up to 90% Loan-to-Value for the purchase of a 1-unit, owner-occupied residential property.
- There are no additional fees or premiums as a result of residency status.
No minimum period of residency is required