Did you know that you can buy a property with just five percent down even if you arrived in Canada in the past five years?
To approve a mortgage loan, banks often require at least two years of credit history, but this rule does not apply to borrowers who qualify as “new comers”.
How to prove your credit
Showing other sources of credit such as telephone and Hydro-Québec bills or even a letter from your landlord might be enough to demonstrate that you are financially reliable and responsible.
Other intresting programs
There are special programs for permanent residents as well as holders of a work permit. There are even exclusive programs for “new arrivals” who still do not have a job but have a down payment of 35 percent or more.