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New to Canada Mortgage


Newcomers to Canada play an increasing role in Canada’s future population growth. CMHC and Genworth insured financing is available to borrowers with permanent and non-permanent residence status, helping newcomers to realize their dream of homeownership in Canada.

The Program Features:

  • Newcomers with permanent resident status have access to all CMHC and Genworth Mortgage Loan Insurance products (subject to product specific eligibility requirements).
  • For permanent residents, where there is limited Canadian credit history and where foreign credit bureaus are not available, CMHC and Genworth continues to consider alternative sources of payment history for Loan-to-Value ratios up to 95%.
  • Newcomers with non-permanent resident status have access to CMHC and Genworth insured financing of up to 90% loan-to-value ratio for the purchase of a 1 unit owner-occupied residential property.
  • No additional fees or premiums as a result of residency status - standard product specific premiums apply.
  • No minimum period of residency required.     

Benefits to Newcomers

  • Access to Homeownership Now - Newcomers with permanent residence status can purchase a home with as little as 5% down payment.
  • Competitive Interest Rates - Access to insured financing which will give you access to competitive interest rates from many lenders in Canada.

CMHC Newcomer - Facilitating Housing Choices

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