New to Canada Mortgages
New to Canada? Let's make home happen.
No local credit yet? We help you qualify with clear steps for work permits, PR, international income, and overseas down payments.
No local credit yet? We help you qualify with clear steps for work permits, PR, international income, and overseas down payments.
Moving countries is a big deal. New systems, new banking, new rules—and somewhere in there you still need a place that actually feels like home. If you're building your life in British Columbia and wondering how mortgages work without a long Canadian credit history, you're in the right place. I help newcomers qualify with a clear plan, step-by-step guidance, and realistic timelines—whether you hold a work permit, you've just become a permanent resident, you're on a post-graduation work permit, or you're a returning Canadian rebuilding local credit.
The goal here is simple: remove guesswork, show you exactly what documents to prepare, explain how lenders look at income and down payment (including funds from overseas), and map out a straightforward path from pre-approval to keys in hand. You'll get options from multiple lenders—not a one-size-fits-all answer—so you can choose what truly fits your situation today and your goals for tomorrow.
PGWP, closed/open work permits with full-time employment in BC
New PRs and citizens with limited local credit depth
Transitioning from study to PGWP and collecting first pay stubs
Sole proprietor or incorporated, establishing Canadian income
Gifts from family overseas or mix of Canadian and international funds
Lived abroad for years, rebuilding local credit in Lower Mainland
If you've just arrived, you might not have a Canadian credit score yet—or your file could be "thin," meaning not enough accounts and history to evaluate risk the usual way. That's common, and it's not a deal-breaker. Some lenders will consider alternative credit—things like verified rent history, utility and phone bills paid on time, or bank statements showing consistent cash-flow and savings behavior. Building two simple tradelines (e.g., a secured credit card and a phone plan) can also help quickly establish a score.
Tip: Even if you'll use alternative credit, open a small, manageable Canadian credit product early, use it lightly (keep utilization low), and pay it in full every month. It builds the track record lenders want to see six–twelve months down the line.
Lenders review income to predict whether payments will be affordable over time. For newcomers, this review is practical and focused:
We'll match your employment story to lenders that understand it.
Minimum down payment depends on the purchase price and insurance rules. You can use savings in Canada, funds from overseas, or a gift from immediate family (with a simple gift letter and proof of funds). Every material deposit in your account must be traceable; lenders will ask for the last 90 days of statements (sometimes longer if money moves internationally). If funds are abroad, plan for transfer time, currency conversion, and any documentation required by the sending bank.
Pro tip: Keep down payment funds in a clean, traceable path. Avoid bouncing funds through multiple accounts or mixing large cash deposits in the final weeks—explanations will be required and can slow things down.
Canada uses a mortgage stress test to ensure you can afford payments if rates rise. Your application is qualified at the greater of your contract rate + 2.00% or a benchmark minimum. Lenders also check two ratios:
Staying within guideline ranges helps you pass underwriting without last-minute surprises. During pre-approval, we'll run your numbers at both contract rate and stress-test rate so you know your real budget.
Don't worry if you're missing something—we'll create an exact checklist for your scenario and a secure place to upload everything.
BC charges PTT on most purchases, with tiers based on price. There are exemptions and special programs that change over time. We'll estimate your PTT and point you to the current eligibility rules so you're never guessing about closing costs.
For condos/townhomes, lenders add a portion of strata fees to the GDS/TDS calculation. That can reduce your maximum purchase price, so we'll budget for it early.
Many buildings publish depreciation reports and maintenance plans. These don't decide your mortgage by themselves, but they matter for your long-term costs and insurance.
Plan location with your work schedule in mind. Lenders don't care whether you walk, drive, or take transit—but your daily life will, and that shapes which neighborhoods make sense.
They've been in Surrey six months, each with full-time roles. Their savings are partly in a Canadian bank and partly overseas. We identify the documentation to trace funds, allow time for international wire transfers, and run pre-approval at stress-test rates. With clean paperwork and a realistic offer, they close smoothly and start building Canadian credit.
A recent PR has a thin credit file but excellent rent and utility payment history. We collect alternative credit references, confirm employment, and place the file with a lender that accepts additional proof of reliability. The client also opens a small credit card to build depth for the next milestone—an eventual refinance or second purchase.
An IT consultant incorporated shortly after arriving. Traditional underwriting would require more Canadian tax history, so we place the client with a flexible lender as a bridge while the business matures. The plan: switch or refinance with a mainstream lender once tax filings demonstrate consistent local income.
A graduate on a post-graduation work permit has a strong job offer but short history. We combine their income with a parent co-signer, structure the down payment correctly, and keep a realistic budget. After a year of stable income and on-time payments, they may stand alone on renewal.
Each path is different. The key is matching your present to a lender that understands it—and keeping your future options open.
See your budget and rate hold, and get a checklist tailored to your documents.
Walk through your scenario in plain language and get a clear timeline.
Use the secure portal to send IDs, letters, and statements—fast and private.
With numbers and terms in hand, you and your realtor can move at the market's pace.
Have a quick question first? Call or text 672-699-9998 or email harpreet@legacymortgagegroup.ca. Friendly, direct answers—no pressure.
You came to Canada to build something—career, family, a life you choose. A home you love is a big part of that. I'll bring the clarity, strategy, and pace to make it happen.
Mortgage solutions are subject to lender approval and applicant qualification. Rates, terms, and conditions may change without notice and vary by product and borrower profile. Examples are for illustration only and may not reflect your situation. Always confirm eligibility and the most current program details before making decisions.
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