PRODUCT DESCRIPTION - New to Canada Mrtgage for newcomers to Canada.
IDEAL CLIENT - If you are new to Canada and have applied for or have a PR card, and have been in Canada less than 5 years, you can obtain home ownership.
MAXIMUM LOAN-TO-VALUE - The maximum Loan-to-Value for this product is 95% on a purchase.
DOWN PAYMENT SOURCES - The down payment will come from own resources, and no portion can be gifted or borrowed. The down payment needs to be confirmed in your bank account.
SPECIAL CRITERIA - A minimum credit score of 600 is required for the main applicant, and must have a decent credit re-payment history.
View the entire Documents Required for mortgage purchases.