Best Mortgage Lenders for Newcomers | November 2025
Moving to Canada? Navigating the mortgage landscape can be challenging for newcomers with limited credit history. Understanding your options is crucial for establishing financial stability, and fortunately, several Canadian lenders offer specialized programs designed specifically for newcomers. By exploring credit building strategies, you can unlock mortgage opportunities tailored to your unique situation.
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Summary Table for Best Mortgage Lenders for Newcomers | November 2025
| Name | Type | Learn More |
|---|---|---|
| The Gateway Canadian Newcomers Mortgage (Bridgewater Bank) | Financial Service | Learn More |
| CIBC Newcomer Banking Program | Financial Service | Learn More |
| Scotiabank StartRight Mortgage Program | Financial Service | Learn More |
| TD New to Canada Program | Financial Service | Learn More |
| RBC Newcomer Advantage Program | Financial Service | Learn More |
| BMO NewStart Program | Financial Service | Learn More |
| True North Mortgage New to Canada Program | Financial Service | Learn More |
| RBC Essential Mortgage for Newcomers | Financial Service | Learn More |
| Bridgewater Bank Newcomer Mortgage | Financial Service | Learn More |
| Nesto Mortgage for Newcomers | Financial Service | Learn More |
| TD Mortgage Pre-Approval for Newcomers | Financial Service | Learn More |
| CIBC Newcomer Mortgage with Foreign Income Consideration | Financial Service | Learn More |
What Newcomers Need to Know
- Credit history in Canada is different from your home country
- Most lenders have specialized newcomer mortgage programs
- Down payment requirements typically range from 5-20%
- Employment and immigration status significantly impact mortgage eligibility
- Alternative credit verification methods are available for newcomers
- Mortgage default insurance is often required for high-ratio mortgages
Our Top Recommendations
- Programs specifically designed for newcomers with no Canadian credit history
- Flexible documentation requirements
- Lower minimum credit score thresholds
- Options for permanent and temporary residents
- Support for alternative income verification
- Competitive interest rates for newcomers
Mortgage Lender Program Details
1. The Gateway Canadian Newcomers Mortgage (Bridgewater Bank)
Category: Financial Service
The Gateway Canadian Newcomers Mortgage is a specialized mortgage solution designed specifically for immigrants establishing their new life in Canada. This program offers flexible lending options for both permanent and non-permanent residents seeking to purchase or refinance a home.
What newcomers need to know:
- Available for permanent resident immigrants and non-permanent residents
- Requires proof of creditworthiness
- Alternative mortgage option for purchase and refinance
- Supports various life event scenarios
- Flexible lending criteria for newcomers
Benefits for newcomers:
- Tailored mortgage solution for immigrants
- Supports both permanent and non-permanent residents
- Provides alternative lending options
- Flexible approach to home financing
- Helps newcomers establish housing stability
How to apply:
- Visit official website to learn more
2. CIBC Newcomer Banking Program
Category: Financial Service
CIBC's Newcomer Banking Program is specifically designed to support immigrants and foreign workers settling in Canada. The program offers tailored banking solutions that help new residents establish their financial foundation with special benefits and support.
What newcomers need to know:
- Must have landed immigrant or permanent resident status within the last 5 years
- Eligible for newcomers and foreign workers
- Can receive banking services with no monthly fees
- Opportunity to refer other newcomer friends
- Available to those new to the Canadian banking system
Benefits for newcomers:
- No monthly banking fees for up to 24 months
- $500 cash bonus after opening a CIBC Smart Account
- 2-year annual fee rebate
- Earn $50 for referring a newcomer friend
- 24/7 support for banking needs
How to apply:
- Visit official website to learn more
3. Scotiabank StartRight Mortgage Program
Category: Financial Service
The Scotiabank StartRight Mortgage Program is specifically designed to help newcomers to Canada achieve their first home ownership goals. This unique program provides tailored mortgage solutions for permanent residents, international students, and foreign workers who are looking to establish their home in Canada.
What newcomers need to know:
- Available for permanent residents in Canada for 5 years or less
- Designed for temporary residents staying in Canada
- Specialized mortgage options for newcomers
- Supports international students and foreign workers
- Helps with obtaining first home in Canada
Benefits for newcomers:
- Eases financial stress of moving to a new country
- Provides banking basics for financial settlement
- Offers mortgage solutions for new immigrants
- Helps purchase a home while staying in Canada
- Meets specific mortgage needs of newcomers
How to apply:
- Visit official website to learn more
4. TD New to Canada Program
Category: Financial Service
TD offers comprehensive banking solutions designed specifically for newcomers to Canada, providing essential financial services and support to help immigrants establish their financial foundation in a new country.
What newcomers need to know:
- Open a bank account with special newcomer banking package
- Qualify for banking services in 50+ languages
- Potential to access financing for car, home, and business
- Available support for international students
- Opportunity to build credit history in Canada
Benefits for newcomers:
- Up to $1,930 in banking package value
- Access to 1,100 TD bank branches nationwide
- Special offers for new immigrants
- Online resources about banking basics
- Support for credit score establishment
How to apply:
- Visit official website to learn more
5. RBC Newcomer Advantage Program
Category: Financial Service
RBC Newcomer Advantage Program is designed to support new immigrants and international students establishing their financial foundation in Canada. The program offers tailored banking solutions to help newcomers navigate the Canadian financial landscape with ease and support.
What newcomers need to know:
- Available to permanent residents or international students who arrived in Canada within the last 12 months
- Eligible for RBC Advantage Banking Account
- Can get up to a $15,000 credit card limit
- Must complete 2 out of 3 regular account activities monthly (pre-authorized payment, direct deposit, or eligible bill payment)
- Monthly account fee can be waived for the first 12 months
Benefits for newcomers:
- Unlimited debits
- Free Interac e-transfers
- Up to 12% cash back on new RBC Cash Back Mastercard for first 3 months
- Low monthly banking fee
- Option to set up direct deposit and pre-authorized payments
How to apply:
- Visit official website to learn more
6. BMO NewStart Program
Category: Financial Service
The BMO NewStart® Program is a comprehensive banking solution designed specifically to support newcomers to Canada. This program provides tailored financial services and special offers to help immigrants establish their financial foundation and navigate banking in their new home.
What newcomers need to know:
- Must be a new immigrant to Canada
- Can open a Performance Plan chequing account
- Eligible for no monthly banking fees for two years
- Requires documentation proving newcomer status
- Can access special banking services for new Canadians
Benefits for newcomers:
- No monthly plan fees for two years
- Potential cash bonus up to $700
- $50 Walmart Canada eGift card
- Access to no-fee credit card
- Global money transfer options without fees
How to apply:
- Visit official website to learn more
7. True North Mortgage New to Canada Program
Category: Financial Service
True North Mortgage offers specialized mortgage solutions for newcomers to Canada, providing a tailored approach to help new immigrants secure home financing. The program leverages support from mortgage default insurance companies to make homeownership more accessible for recent arrivals.
What newcomers need to know:
- Mortgage options available for permanent and non-permanent residents
- Supports financing for primary residence purchases
- Backed by mortgage default insurance companies (CMHC, Sagen, Canada Guaranty)
- Potential for competitive mortgage rates
- Specialized support for new immigrants entering the Canadian housing market
Benefits for newcomers:
- Guaranteed lowest mortgage rates for primary residence
- Access to mortgage loan insurance
- Simplified financing process for new Canadian residents
- Multiple insurance company options
- Opportunity to establish credit and invest in Canadian real estate
How to apply:
- Visit official website to learn more
8. RBC Essential Mortgage for Newcomers
Category: Financial Service
RBC's Essential Mortgage program provides specialized mortgage solutions for newcomers to Canada, recognizing the unique financial challenges faced by immigrants. This program offers flexible options for those with limited Canadian credit history, helping new residents establish their homeownership journey.
What newcomers need to know:
- Mortgages available even with limited credit history
- Potential qualification with a 35% down payment
- Options for temporary foreign workers
- Programs for those with little-to-no Canadian employment history
- Specialty mortgage options with no minimum income requirement
Benefits for newcomers:
- Mortgage options for newcomers in first five years of arrival
- Ability to get mortgage without extensive Canadian credit history
- Specialized programs for foreign income earners
- Opportunities for temporary foreign workers
- Flexible qualification criteria
How to apply:
- Visit official website to learn more
9. Bridgewater Bank Newcomer Mortgage
Category: Financial Service
The Gateway Canadian Newcomers Mortgage is a specialized mortgage solution designed specifically for immigrants establishing their new life in Canada. This program offers flexible options for permanent residents and non-permanent residents looking to purchase their first home in Canada.
What newcomers need to know:
- Minimum 1 year of residency in Canada
- Must have a valid work permit with minimum 183 days of validity
- Available for permanent resident immigrants
- Suitable for non-permanent residents
- Alternative mortgage option for newcomers
Benefits for newcomers:
- Tailored mortgage solution for immigrants
- Flexible lending criteria
- Supports purchase of first home in Canada
- Accommodates various immigration statuses
- Helps newcomers establish financial roots in Canada
How to apply:
- Visit official website to learn more
10. Nesto Mortgage for Newcomers
Category: Financial Service
Nesto offers specialized mortgage solutions designed to help newcomers to Canada navigate the home financing process. Their digital platform provides tailored mortgage options that support immigrants in achieving homeownership with flexible lending criteria.
What newcomers need to know:
- Must be a permanent resident in Canada for 5 years or less
- Must have a valid Canadian work permit of 12 months or greater
- Minimum credit score requirement of 650
- Mortgage options available for temporary foreign workers
- Competitive rates automated through online platform
Benefits for newcomers:
- Access to mortgage options with limited Canadian credit history
- Online application process
- 300+ mortgage advisors providing expert guidance
- Competitive mortgage rates
- Seamless home financing experience for new immigrants
How to apply:
- Visit official website to learn more
11. TD Mortgage Pre-Approval for Newcomers
Category: Financial Service
TD offers specialized mortgage programs designed to help newcomers to Canada navigate the home financing process and establish their financial foundation in a new country. The pre-approval process provides new immigrants with a clear understanding of their borrowing potential and helps streamline their home purchasing journey.
What newcomers need to know:
- Connect with a TD Mortgage Specialist to start the pre-approval process
- Understand how much you may be able to borrow for a home
- Program is available for temporary foreign workers and new immigrants
- Designed to help newcomers build Canadian credit history
- Can be used to search for and finance a home
Benefits for newcomers:
- Special mortgage programs catered to newcomers
- Help in understanding mortgages in Canada
- Opportunity to build Canadian credit history
- Assistance with home financing transition
- Support for new immigrants entering the Canadian housing market
How to apply:
- Visit official website to learn more
12. CIBC Newcomer Mortgage with Foreign Income Consideration
Category: Financial Service
CIBC offers specialized mortgage programs designed to help newcomers to Canada become homeowners, even without an established Canadian credit history. This innovative program provides unique opportunities for immigrants to access mortgage financing by considering foreign income and work experience.
What newcomers need to know:
- Must be a Canadian permanent resident for five years or less
- Foreign income can be used to qualify for mortgage
- Full-time or contract-based employment is required
- Foreign income must be converted to Canadian dollars
- Documentation of employment is essential
Benefits for newcomers:
- Mortgage qualification without Canadian credit history
- Consideration of foreign income for mortgage approval
- Specific mortgage programs for new Canadian residents
- Support for temporary foreign workers
- Flexible banking options for newcomers
How to apply:
- Visit official website to learn more
Final Words
Navigating mortgage options as a newcomer requires careful research and understanding of specialized programs. By leveraging these tailored mortgage solutions and proactively building your Canadian credit profile, you can successfully secure financing and establish your financial foundation in Canada. Remember that each lender has unique requirements, so comparing multiple options and consulting with mortgage professionals will help you find the best path forward.
Additional Resources
- Credit building guides
- Newcomer financial planning
- Immigration financial support services
About the author
Frequently Asked Questions: Best Mortgage Lenders Newcomers With No Canadian Credit History This November 2025
What are the top mortgage programs for newcomers to Canada with no credit history in 2025?
The Scotiabank StartRight Mortgage Program, CIBC Newcomer Banking Program, and RBC Newcomer Advantage Program are the best options for newcomers with no Canadian credit history.
How can I qualify for a mortgage as a new immigrant with zero Canadian credit history?
Most newcomer mortgage programs like TD New to Canada and Bridgewater Bank's Gateway program accept international credit reports, work permits, and employment verification as alternative credit assessment methods.
Which Canadian bank offers the most flexible mortgage options for recent immigrants?
RBC Newcomer Advantage Program provides the most comprehensive mortgage solution, offering specialized lending options, competitive rates, and flexible credit assessment for newcomers to Canada.
What documents do I need to apply for a newcomer mortgage in Canada?
Typically, you'll need a valid work permit, proof of employment, international credit report, passport, and proof of income to qualify for newcomer mortgage programs in 2025.
How quickly can I get approved for a mortgage as a new Canadian immigrant?
Most newcomer mortgage programs like CIBC and Scotiabank offer pre-approval within 1-2 weeks, with complete mortgage approval possible in 30-45 days after submitting required documentation.