New to Canada/Offshore Purchasers

If you have moved to Canada recently and need special guidance through the process we have access to programs that will make your First Canadian Home  be possible.

We will guide you through the process remotely advising you of the documentation required.

If you are living outside of Canada and want to purchase a rental home in Canada we have programs as well when a purchaser can supply 35% down payment.

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New Immigrant Programs

Permanent Resident Mortgage

Permanent Resident Mortgage

  • Amortization periods up to 35 years.
  • The program has been expanded to include insured financing through CMHC or Genworth..


  • Immigrants who have relocated to Canada within the last 6 years.
  • Applicants who do not have Canadian credit history.
  • Applicants who do not qualify following standard adjudication requirements but have good down payment from own resources.

Borrower Qualifications

  • Application must be within 6 years of the date applicant arrived in Canada for uninsured mortgage.
  • For insured mortgage, application must be within 6 years with of date of arrival with CHMC, 2 years with GNW.
  • Must have established residence in Canada and landed immigrant status.
  • Must have no derogatory credit history.
  • GNW Insured: minimum 3 months full time employment in Canada is required.

Required Documentation

  • A document in the applicant's name, issued by Citizenship and Immigration Canada, which bears an official stamp and identifies an entry date.
  • Permanent resident card.
  • Copies of both a valid immigration visa plus evidence that the customer's Application for Permanent Residence in Canada has been approved.
  • Uninsured mortgage additional requirements:
    • A satisfactory credit background, as supported by one or more of the following:
    • A written reference from a former employer or financial institution in the country of origin.
    • A letter from current Canadian employer or landlord.
    • Canadian bank reference (e.g. letter from a recognized financial institution or 6 months bank statements).
    • International credit bureau report.
  • Insured mortgage additional requirements:
    • Standard requirements for proof of employment and income.
    • Verification of landed immigrant status .
    • Insurer's specific requirements.

Eligible Properties

  • Owner occupied or rental properties of up to 4 units.

Maximum Loan To Value Ratio

  • Uninsured: Maximum 65%.
  • CMHC Insured: Maximum 95%.

Temporary Resident Mortgage

Temporary residents to Canada, such as foreign workers with valid work visas, can now obtain uninsured or insured mortgage financing.

Borrowers may choose from any of our mortgage terms, including fixed rate mortgage terms, closed term mortgage and a variable rate mortgage.


  • Temporary foreign residents entering Canada with a valid work permit.

Borrower Qualifications

  • Non-permanent residents of Canada.
  • Must have valid work visa or a letter from current employer confirming customer is legally eligible for work in Canada.
  • Principal residence in country of origin does not have to be sold.
  • Must have no derogatory credit history.
  • Not available to Diplomats or any other political appointed individuals who do not pay income tax in Canada.
  • GNW Insured: application must be within 24 months of arrival and a minimum of 3 months full time employment in Canada is required.

Required Documentation

  • Must have a valid work visa or a letter from the current Canadian employer confirming customer is legally eligible for work in Canada.
  • Must also provide any one of the following as a personal reference:
    • A written reference from current employer.
    • A reference from a recognized Canadian financial institution.
    • An International Credit Bureau report (borrower must provide complete address from their country of origin for this purpose).
  • If the borrower has a mortgage on their principal residence in their country of origin, the mortgage payments must be disclosed and included in the borrower's total debt servicing ratios.
  • If a corporate relocation subsidy is included in the down payment, a letter from the employer confirming the funds are being provided as a subsidy under its relocation program and are not repayable is required.
  • For CMHC insured mortgages only – proof of any steady rental income from the principal residence in the country of origin is required.

Eligible Properties

  • Owner occupied single unit properties up to 4.
  • Property type must have a good secondary market.
  • No maximum property value.

Maximum Loan To Value Ratio

  • Uninsured: Maximum 65%.
  • Insured: With CMHC, maximum 90%; with Genworth, maximum 95%.

Maximum Loan Amount

  • Uninsured: Up to $2 million.

Mortgage Products Available

  • Fixed rate mortgage terms from 6 months to 10 years.
  • Variable Rate Mortgage.


  • 35 years.
  • Premium surcharge applies to amortizations in excess of 25 years.

Down Payment

  • Uninsured: Minimum 35% from own resources; no gifted down payments.
  • Insured by CHMC: Minimum 10% from own resources; gifted funds in addition to the minimum from own resources are acceptable.
  • Insured GNW: Minimum 5% from own resources; for LVRs 85% or less, up to 10% can be a gift from a non-occupying guarantor.

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