Qualified home buyers who have immigrated or relocated to Canada within the last 5 years are eligible under the New to Canada program to purchase a property with as little as a 5% down payment.


  • Must have immigrated or relocated to Canada within the last 60 months
  • 3 months minimum full time employment in Canada (borrowers being transferred under a corporate relocation program are exempt)
  • Must have a valid work permit or obtained landed immigrant status
  • For 95% LTV, down payment must be from own resources. For LTV’s less than 95%, the remainder may be gifted from an immediate family member
  • Guarantors are not permitted


  • Valid work permit or verification of landed immigrant status
  • Income Confirmation
  • Down payment confirmation
  • Purchase and Sale agreement
  • International credit report demonstrating a strong credit profile


  • Two (2) alternative sources of credit demonstrating timely payments (no arrears) for the past 12 months. The two alternative sources required are:
  1. Rental payment history confirmed via letter from landlord and bank statements
  2. One other alternative source (hydro/utilities, telephone, cable, cell phone and auto insurance) to be confirmed via letter from the service provider or 12 months billing statements.

NOTE: Alternative sources of credit must be obtained from a Canadian source.