Mortgages for People New to Canada aim to assist newcomers in understanding the Canadian real estate market and its associated costs, such as closing costs and adjustment costs. Instead of renting, newcomers can build equity by taking advantage of their employment and credit sources. These mortgage options are available for those looking for higher loan amounts, with at least a 20% down payment saved. However, there is also more flexibility on the down payment, as little as 5% down. Homebuyer incentive programs and down payment assistance options will be explained to potential buyers. Access to various lenders, including banks, mortgage finance companies, credit unions, and alternative financers, allows for a custom-tailored mortgage product that fits the specific needs of each individual. Additionally, first-time home buyers can benefit from innovative tools in Canada, ensuring an efficient and smooth experience.