New to Canada mortgage rates.
Today’s best 5-year fixed is 4.14% and variable 3.44%. Newcomers on insured mortgages are generally priced like long-term Canadians, and eligible work-permit holders can access competitive newcomer-program rates. We shop 100+ lenders and work in 15+ languages.
International or alternative credit accepted — no Canadian bureau required to start.
Get your newcomer rateNewcomers on an insured mortgage are generally priced like long-term Canadians (best 5-year fixed purchase rate on our board today: 4.14%); being new to Canada doesn’t by itself move your rate. Work-permit holders can qualify for insured newcomer programs from 5% down if they fit an exception to the federal non-Canadian buyer ban (in force until January 1, 2027). No Canadian credit yet? International or alternative credit keeps your rate competitive — and we work in 15+ languages.
What rate can a newcomer get in Canada?
If you’re a permanent resident, the answer is simple: on an insured mortgage you’re generally priced like a long-term Canadian, and insured rates are often the lowest available in the market. Being new to Canada doesn’t by itself 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, insured newcomer programs (CMHC, Sagen, Canada Guaranty) and the Big-6 banks’ newcomer offers can lend at competitive rates, from 5% down on insured 1-2 unit purchases, provided your purchase fits an exception to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (for example, at least 183 days left on your work 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 15+ 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.
Insured newcomers are priced like any insured borrower
On an insured mortgage, newcomers are generally priced like long-term Canadians, and insured rates are often the lowest on the board. Being new to Canada doesn't by itself move your rate.
Newcomer programs for work-permit holders
CMHC, Sagen and Canada Guaranty newcomer programs, plus the Big-6 banks' newcomer offers, can serve work-permit holders at competitive rates, not a 'newcomer surcharge', if the purchase fits the federal non-Canadian buyer rules.
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
Insured newcomer programs allow 5% down on 1-2 units for permanent residents and eligible work-permit holders; some lender programs ask for more. We model the options for your status.
We work in 15+ 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 15+ languages.
- FSRA #13737 · no bureau pull to start · best newcomer rate for your status.
New to Canada rates FAQ
Do newcomers pay higher mortgage rates?
Can I get a good rate with no Canadian credit?
What rate do the bank newcomer programs offer?
Do I need a bigger down payment as a newcomer (and how does it affect my rate)?
Your newcomer mortgage rate, in your language.
We shop your file across 100+ lenders — permanent-resident insured pricing or a Big-bank newcomer program. 15+ languages. No bureau pull to start.