New to Canada Mortgage Alberta & Saskatchewan

New Immigrant Mortgages

New to Canada immigrant mortgage borrowing in Alberta Canada

If you are a newcomer to Canada and are planning on buying a home in Saskatchewan or Alberta, we would like to be the first to welcome you. 

There are several programs available for permanent and non-permanent residents that are dreaming of home ownership in Canada. 

Whether you are preparing to move here or have been in Canada for less than 3 years, we can help you qualify for the special programs available.

Newcomers to Canada

Two corporations, the federal Canada Mortgage and Housing Corporation and the private Genworth Mortgage offer loan insurance products for newcomers with permanent resident status.   Since most newcomers have limited Canadian credit history, these mortgage insurance products allow new Canadians to buy a home with as little as 5% down and no maximum set amount. 

There are some conditions that need to be met, and we can go through all of them with you.  You will need proof of income showing your annual salary and verifying the length of time you have worked for your employer.  You may also need a credit report from your home country or a letter of reference from your bank, if your Canadian credit report is less than 1 year old. 

Downpayment Requirements

New to Canada mortgages in Alberta and SaksatchewanNew to Canada Mortgages

If you are purchasing a home without mortgage insurance, then 35% is required as a down payment.  You will need to have that money available in a Canadian bank account prior to closing, and may need proof of funds at least 90 days prior for the financing to go through.

Kincaid Mortgages can secure you a great rate with no additional fees or premiums due to your new immigrant status.  We can get you pre-approved for a mortgage so you will know how much you can afford to spend on a home.