Newcomer Programs
Building credit history doesn't have to mean waiting to buy. Several major lenders have programs specifically designed for newcomers.
Dedicated Programs
TD, RBC, Scotiabank, and several other major Canadian lenders have dedicated newcomer mortgage programs. These allow qualification without a Canadian credit score in some cases, using alternative documentation to assess creditworthiness.
These programs are typically available to permanent residents and, in some cases, individuals with valid work permits, depending on the lender and the nature of the permit.
Kyle knows which lenders have the most flexible newcomer programs and what each requires. You don't need to approach each bank separately.
New to Canada Banking Program
Accepts international credit references from select countries. Available to newcomers within 5 years of arrival.
Newcomer Advantage
No Canadian credit history required for eligible newcomers. Flexible on income documentation for recent arrivals.
StartRight Mortgage
Available to permanent residents and certain work permit holders. Uses employment and down payment to offset limited credit history.
Documentation
A strong Canadian employment letter, especially a permanent, full-time position, carries significant weight when Canadian credit history is limited.
A letter from your home-country bank confirming your account history and conduct. Some lenders accept this as a substitute for a Canadian credit score.
A down payment of 20–35% significantly improves your options across all lenders. It reduces lender risk and often removes the credit score requirement entirely.
Residency Status
Permanent residents have the broadest access to mortgage products in Canada, including newcomer programs and all standard mortgage products once they have any Canadian credit history at all.
Work permit holders can qualify for mortgages with some lenders, but the permit type matters. Open work permits and employer- specific permits with significant time remaining are treated more favourably than short-term or expiring permits.
Visitor visas and student visas typically don't qualify, though there are exception cases. Start with an honest conversation with Kyle about your status and timeline.
Get Started
Not sure if this applies to your situation? One call usually gives you a clear answer.
