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New to Canada MortgageNew to Canada mortgages help recent arrivals to the country secure financing for a home purchase.
What is a new to Canada mortgage?
A new to Canada mortgage is part of the New To Canada Mortgage Insurance Program, which allows people who have relocated to Canada to buy a home faster than usual with a down payment as low as 5 percent. It can be frustrating for new arrivals to obtain a mortgage after moving to Canada, but this loan type can make the process much easier.
What are the benefits of a new to Canada mortgage?
New to Canada mortgages feature high loan-to-value ratios for qualified borrowers, extended amortization rates, low down payment options and flexibility in choosing between a fixed-rate or adjustable-rate mortgage.
How do I get a new to Canada mortgage?
Contact Super Brokers to speak with a mortgage professional who can help you decide if a new to Canada mortgage fits your needs best. Keep in mind that the minimum down payment is 5 percent with a maximum amortization of 25 years. The property must also be located in Canada.Apply for a New to Canada Mortgage