How to Get a Mortgage When You're New to Canada

November 5, 2025 | Posted by: Matt Broom-Hall

How to Get a Mortgage When You're New to Canada

Say Hello to Your New Home in Alberta , Where Dreams Meet Reality and Strategy Makes Homeownership Possible.

Arriving in Canada when rents are sky-high and property prices have everyone talking can feel overwhelming. But here's what we know after years of working with newcomers across Alberta: you don't have to wait years to own your own home. At Hello Mortgage, we've always specialized in helping New to Canada clients navigate the mortgage landscape, and we're more committed than ever to making homeownership accessible from day one.

Whether you're settling in Calgary, Edmonton, Red Deer, or anywhere across our beautiful province, we're here to guide you through every step of the mortgage process. Let's break down exactly what you need to know.

What You Need to Qualify as a Newcomer

Whether you're a landed immigrant with a work visa, a permanent resident, or a new Canadian citizen, there are mortgage options designed specifically for your situation. Different circumstances require different down payment amounts, mortgage terms, and documentation , but the good news is that every situation has a solution.

All newcomers seeking quality financing will need to provide these essentials:

Proof of Employment: An employment letter outlining your salary and employment status. This shows lenders you have steady income to support mortgage payments.

Proof of Down Payment: Bank or investment statements showing 90 days of history on your down payment funds. These funds can be in another country, but the bank statements may need professional translation.

Proof of Acceptable Credit: This can include landlord reference letters, monthly bank statements showing rental payments, utility bills, telephone bills, cable bills, or insurance payments. No Canadian credit history? No problem , we work with this every day.

Work Permit Holders: Your Path to Homeownership

If you're currently working in Alberta on a work permit, you have excellent mortgage options available. Here's what you need to know:

You'll need to provide proof of an active work permit. If your visa is expiring, don't worry , an extension application or permanent residency application can demonstrate your commitment to staying in Canada.

The key requirement: 5% of your required down payment must come from your own resources and, in most cases, needs to be in Canada for 30 days. These can be gifted funds from a close family member, making it easier for families to support each other in this exciting transition.

Many of our work permit holder clients are surprised to learn they can purchase a home so soon after arriving. We've helped countless families move from temporary housing into their own homes within months of landing in Alberta.

Permanent Residents: Enhanced Flexibility

As a permanent resident, you have even more flexibility in your mortgage options. Permanent residents are not required to show that 5% of the down payment comes from their own resources, opening up more possibilities for how you structure your purchase.

This enhanced flexibility often means faster paths to homeownership and more creative financing solutions. We work with several lenders who understand that permanent residents represent long-term stability and are excellent mortgage candidates.

Moving to Alberta Without Employment? You Still Have Options

Here's where many newcomers are pleasantly surprised: you can still purchase a home even if you haven't secured employment yet.

If you're arriving in Canada without a job lined up, you can still buy a home with a 35% down payment. We have several trusted lender partners who specialize in 'non-conforming' mortgage products designed exactly for this situation.

Requirements for the no-employment option:

• 35% of the purchase price for down payment
• At least 12 months of principal, interest, and taxes payments sitting in your Canadian bank account

These mortgage products come with slightly higher rates and require a 1% lender fee, but given Alberta's strong rental market, many of our clients prefer to purchase a home and start building equity immediately rather than paying rent to someone else.

Should you rent or buy? That's where strategy comes in. Our mortgage calculator can help you run the numbers and see which option makes the most financial sense for your specific situation.

Why Alberta Makes Sense for Newcomers

Alberta offers newcomers something special: the opportunity to build real wealth through homeownership. While other provinces see newcomers struggling with housing costs, Alberta's market provides genuine opportunities for equity building and community establishment.

When you purchase your own home, several important things happen:

• You begin to establish deep community roots
• Your children can settle into their schools with stability
• You start building equity instead of paying someone else's mortgage
• You gain the pride and security that comes with homeownership

We've worked with hundreds of New to Canada families to help them settle into their own homes across Alberta. From young professionals in Calgary's booming tech sector to families establishing themselves in Edmonton's diverse communities, homeownership becomes the foundation for long-term success in Canada.

The Hello Mortgage Advantage for Newcomers

What makes working with Hello Mortgage different? We understand that your situation is unique, and we have the expertise and lender relationships to find solutions.

Our team has deep experience navigating the complexities of newcomer mortgages. We know which lenders are most flexible with international income documentation, which programs offer the best rates for your specific situation, and how to present your application in the strongest possible light.

We also understand the emotional side of this journey. Buying your first home in a new country is both exciting and nerve-wracking. Our job is to make the process as smooth and stress-free as possible, keeping you informed every step of the way.

Beyond the Mortgage: Building Your Financial Future

Getting approved for your mortgage is just the beginning. We help our newcomer clients understand:

• How to build Canadian credit history quickly and effectively
• Strategies for paying down your mortgage faster
• When to consider refinancing or accessing home equity
• How homeownership fits into your broader financial planning

Your Next Step

Ready to explore your options? The first step is always a conversation. We'll review your specific situation, explain all available programs, and create a clear action plan for getting you into your new Alberta home.

Every newcomer's journey is different, but the destination is the same: the keys to your own home and the start of your Canadian dream.

Whether you're arriving next month or you've been in Alberta for a few years, whether you're a permanent resident or working on a permit, whether you have employment lined up or you're still job searching , we have mortgage solutions that work.

The Alberta housing market is waiting for you. Let's make it happen.

Ready to say hello to homeownership? Contact our team today and let's start building your mortgage strategy. Your new home in Alberta is closer than you think.

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