Question 1

Who qualifies for a new-to-canada mortgages in Burnaby?

Accepted Answer

Any Canadian resident in Burnaby who meets the standard new-to-canada mortgages criteria — we help borrowers from Metrotown, Brentwood, Capitol Hill and surrounding GVA. Dense condo market; investor activity from owner-occupiers.

Question 2

What's the average newcomer file size in Burnaby?

Accepted Answer

Burnaby's benchmark home price is approximately $1,520,000, so the median newcomer file we see here sits in the $1,292,000–$1,748,000 band. Your specific neighbourhood and property type can move that materially.

Question 3

What does a new-to-canada mortgages cost on a typical Burnaby home?

Accepted Answer

On Burnaby's $1,520,000 benchmark price, a representative newcomer file at minimum down works out to about $76,000 down and roughly $7,304/mo (principal + interest at 4.19% over a 30-year amortization). Your exact numbers depend on the property and your file — we run them precisely before you commit.

Question 4

Why use a Burnaby mortgage broker for a new-to-canada mortgages?

Accepted Answer

A local broker knows GVA's property types and which of our 100+ lenders price newcomer files best in Burnaby — from Metrotown and Brentwood condos to detached stock. Beyond the Big-6 banks and national monolines, that includes regional British Columbia lenders like Vancity, Coast Capital, BlueShore Financial — several of which qualify on the contract rate rather than the stress-test rate, which can matter on a tight file. Dense condo market; investor activity from owner-occupiers. We compare every option and there's no fee to you on A-lender files.

Question 5

I'm a permanent resident. How much down payment do I need?

Accepted Answer

5% on the first $500K, 10% on the portion to $1.5M, 20% above. The under-20% mortgage is insured by CMHC, Sagen, or Canada Guaranty (premium financed into the loan). Insured PR mortgages price identically to long-term Canadians.

Question 6

I'm on a work permit. Can I qualify?

Accepted Answer

Yes — 10-35% down typical, depending on lender and permit type. Closed permits with established Canadian employer (12+ mo) are easier than SOWP or short-tenure files. Scotia StartRight is the most flexible.

Question 7

I have no Canadian credit. What are my options?

Accepted Answer

Three paths: (1) International Equifax/TransUnion report covering 90+ countries; (2) Alternative credit letters (telecom, rent, utilities, insurance); (3) Lender-specific Newcomer programs that don't require Canadian credit history.

Question 8

Can my down payment come from outside Canada?

Accepted Answer

Yes. Transfer funds to your Canadian bank account at least 90 days before closing, OR provide documented international transfer history with source-of-wealth letter. We coordinate FINTRAC compliance.

Question 9

How long does a newcomer take to close in Burnaby?

Accepted Answer

Most Burnaby files close in 21-35 days from approval. Faster on clean A-lender transfers; slower on alt-A or files requiring an appraisal in a fast-moving GVA market.

Question 10

What documents do I need for a newcomer in Burnaby?

Accepted Answer

Standard package: two pieces of government photo ID, two years of T4s/NOAs, recent pay stubs, 90-day proof of down-payment funds, and the property documents (MLS listing or current mortgage statement). Self-employed and newcomer files have additional requirements — we send a precise list after a 5-minute intake.

Question 11

Who regulates a new-to-canada mortgages in British Columbia?

Accepted Answer

Mortgage brokering in British Columbia is regulated by the BCFSA (BC Financial Services Authority). Mortgage Squad Advisors is a licensed brokerage (FSRA #13737, Ontario head office) and arranges British Columbia financing in compliance with BCFSA requirements — directly or through licensed partner brokers where provincial registration requires it. All advisors are FINTRAC-trained. Ask us for the registration details that apply to your file.

New-to-Canada mortgages in Burnaby.

New-to-Canada mortgages — built for Burnaby.

Building a Burnaby approval without Canadian credit

Down payment from abroad and source-of-funds

New-to-Canada mortgages across Burnaby

New-to-Canada mortgages in Burnaby — common questions.

Other mortgage solutions in Burnaby

New-to-Canada mortgages in other British Columbia cities

New-to-Canada mortgages in Burnaby: helpful guides & tools

Ready to start your new-to-canada mortgages in Burnaby?