Newcomers may have mortgage options depending on their immigration status, income, employment, credit profile, down payment and the requirements of the lender and mortgage product.

Credit history can be an important factor in lending decisions. However, circumstances and requirements vary by lender and product, and some financial institutions may have options designed for eligible newcomers.

The amount required depends on factors such as the property’s purchase price, applicable mortgage rules and your circumstances. A qualified mortgage professional can determine the requirements that apply to a particular transaction.

Depending on the lender and financing product, documents may include identification, proof of income or employment, banking information, information about assets and debts, and other supporting records.

A mortgage pre-approval generally involves a lender reviewing certain financial information to provide an indication of potential borrowing capacity and terms. It is not necessarily a final guarantee of mortgage approval.