New to Canada mortgage rates.
Today’s best 5-year fixed is 3.94% and variable 3.60%. Permanent residents on insured (5%-down) mortgages are priced identically to long-term Canadians — and work-permit holders get competitive newcomer-program rates. We shop 100+ lenders and work in 50+ languages.
Permanent residents on an insured (5%-down) mortgage are priced identically to long-term Canadians (today ~3.94%) — being new to Canada doesn’t move your rate. Work-permit holders get competitive Big-bank newcomer-program rates (10-35% down). No Canadian credit yet? International or alternative credit keeps your rate competitive — and we work in 50+ languages.
What rate can a newcomer get in Canada?
If you’re a permanent resident, the answer is simple: on an insured (5%-down) mortgage you’re priced the same as a long-term Canadian, and insured rates are often the lowest available in the market. Being new to Canada does not move your rate. We put your file out to 100+ lenders and bring back the lowest insured rate you qualify for.
If you’re on a work permit, you’re placed through the major Big-bank newcomer programs — RBC, Scotia StartRight, BMO NewStart, TD, and National Bank — at competitive rates, typically with 10% to 35% down depending on your permit. No Canadian credit yet? An international Equifax or TransUnion report, or alternative credit such as rent and utility history, keeps your rate competitive. We work in 50+ languages, so the whole file is handled in the language you’re most comfortable in. See our full newcomer mortgage guide, or if you’re buying your first home, our first-time buyer page.
Newcomer paths for every status
PR, work permit, first home, or self-employed — there's a newcomer program for your file, in your language.
Newcomer guide
PR vs work permit, programs, documents — the full newcomer path.
First-time buyer
Newcomer and buying your first home? Stack the FHSA + HBP too.
Self-employed newcomer
Business-for-self with a short Canadian history — we have lenders for it.
Down payment
See the minimum down by status and price, and how to get there.
What can I afford?
Model the stress test and your max price before you shop.
Build Canadian credit
No Canadian bureau yet? How to establish it — and what counts now.
6 things newcomers should know about mortgage rates
Why being new to Canada doesn't have to mean a higher rate.
PRs are priced like any Canadian
On an insured (5%-down) mortgage, permanent residents are priced identically to long-term Canadians — and insured rates are often the lowest on the board. Being new to Canada doesn't move your rate.
Big-bank newcomer programs
Work-permit holders are placed through RBC Newcomer, Scotia StartRight, BMO NewStart, TD, and National Bank — at competitive rates, not a 'newcomer surcharge'.
No Canadian credit? No problem
Lenders accept an international Equifax/TransUnion report or alternative credit (rent, utilities, phone), which keeps your rate competitive while you build a Canadian bureau.
Down payment by status
PRs can buy with 5% down; work-permit holders typically need 10-35% depending on the permit. A larger down payment can move you to a sharper insured rate — we model both.
We work in 50+ languages
The whole file — application, documents, advice — is handled in the language you're most comfortable in, so nothing gets lost in translation.
100+ lenders, newcomer-friendly
We shop the newcomer programs and insured pricing across the network to find the lowest rate your status qualifies for.
Why finance your newcomer mortgage with us
- PR insured pricing + every big-bank newcomer program shopped across 100+ lenders.
- International credit accepted — no Canadian bureau required to start.
- Service in 50+ languages, online or in person.
- FSRA #13737 · no bureau pull to start · best newcomer rate for your status.