YES!!!
As a newcomer to Canada it is possible for you to purchase your own home with as little as 5% down.
CMHC offers the following program to new residents:
Features
Newcomers with permanent resident status have access to all CMHC
Mortgage Loan Insurance products (subject to product specific eligibility
requirements).
For permanent residents, where there is limited Canadian credit history
and where foreign credit bureaus are not available, CMHC continues to
consider alternative sources of payment history for Loan-to-Value ratios
between 80.01% and 95%
Newcomers with non-permanent resident status have access to CMHC
insured financing of up to 90% loan-to-value ratio for the purchase of a 1
unit owner-occupied residential property
No additional fees or premiums as a result of residency status – standard
product specific premiums apply
No minimum period of residency required
APPLY NOW TO FIND OUT IF YOU ARE ELIGIBLE FOR THIS PROGRAM!
If you have any questions you may contact one of our Mortgage Agents to discuss YOUR options, either complete the confidential comment form below, or use our Contact Page,
Toll free 1-866-712-3943
email mortgages@dropmyrate.ca
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