🏡 New-to-Canada Mortgage Guide

For many newcomers, buying a home in Canada is a dream that represents stability, opportunity, and finally putting down roots. Dealerhop, partnered with Homewise, makes that journey easier by helping immigrants secure mortgages with trusted banks, credit unions, and lenders who specialize in New-to-Canada situations.

Homewise holds a 5.0 Google rating because the process is simple, modern, and welcoming for Canadians from every background — especially newcomers navigating the mortgage world for the first time.

🚀 How Dealerhop + Homewise Helps Newcomers Get Approved

📝 Apply in Minutes

You answer a few guided questions about your immigration status, work history, income, and goals. Homewise immediately builds your personalized profile and matches you with lenders offering New-to-Canada mortgage programs.

🤝 Negotiation Done for You

Instead of visiting multiple bank branches and hearing “no” due to limited credit history, Homewise negotiates with 30+ lenders who understand newcomer challenges and offer flexible qualification rules.

⭐ Multiple Mortgage Options

You receive several mortgage solutions — not just one. Each option is explained in clear, simple language so you can choose confidently.

🧭 Support From a Personal Advisor

A Homewise Advisor walks you through every step. They answer questions, review documents, explain rates, and help you make smart decisions.

🌍 Why Newcomers Love Dealerhop + Homewise

🌟 Designed for Immigrants

Many lenders offer special programs for permanent residents, work permit holders, and immigrants with limited Canadian credit history.

🧩 Flexible Qualification Methods

Some lenders will accept:

• International credit reports
• Rental payment history
• Employment letters from new jobs
• Alternative credit (phone bills, utilities, etc.)

💸 Big Savings

With multiple lenders competing for your business, newcomers often save thousands compared to walking into one bank.

💻 100% Online

No awkward in-branch meetings or confusing bank jargon.
Just simple, fast mortgage shopping anytime, anywhere.

💡 Tips for New-to-Canada Mortgage Success

✨ Build a Small Credit Footprint Early

Even two or three months of Canadian credit activity can make a difference. A secured credit card or small limit card works great.

✨ Save a Strong Down Payment

Most newcomer programs prefer at least 5–10% down, but more can help secure better rates.

✨ Get a Pre-Approval Before House Shopping

Builders, agents, and private sellers take you far more seriously with a locked-in rate.

✨ Provide Clear Employment & Income Proof

Lenders love stability. Recent job offers, pay stubs, or work permits help strengthen your file.

✨ Ask About Penalties & Portability

Especially if you think you might move cities or provinces later. Newcomers often relocate for jobs.

⚠️ What Newcomers Should Watch Out For

🚫 Only Talking to One Bank

Most banks only offer one product — and newcomers often get higher rates. Comparing 30+ lenders gives you a massive advantage.

🚫 “No Frills” Mortgages

These look cheap but often come with:

• High penalties
• Zero prepayment room
• Little flexibility
• No portability if you move
  This is risky if your plans may change.

🚫 Confusing Variable Rates

Rates can change quickly. Make sure you understand how fluctuations could impact your monthly payments.

🚫 Hidden Fees

Homewise is always transparent, but many lenders are not. Watch for admin fees, penalty fees, and unusual terms.

🧮 Examples of Newcomer Mortgage Situations

🟦 Example 1: New Permanent Resident

A family newly settled in Toronto with limited Canadian credit may still qualify when Homewise pulls an international credit report and pairs it with employment letters. A lender offers them a competitive five-year fixed rate with solid prepayment options.

🟦 Example 2: Work Permit Holder

A software developer on a two-year work permit finds a lender willing to approve them with only six months of Canadian employment. Their rate is lower than expected because Homewise negotiated with a credit union offering a special newcomer program.

🟦 Example 3: Refinancing a High-Rate Newcomer Mortgage

A newcomer who bought quickly at a higher starter rate years ago refinances through Homewise and saves more than $10,000 over the next term thanks to better conditions.

👍 Pros of Using Dealerhop + Homewise for Newcomer Mortgages

• Access to 30+ lenders who understand newcomer needs
• Always free, fast, and fully online
• Multiple mortgage options instead of one
• Clear explanations without confusing language
• Ideal for purchases, renewals, and refinancing
• Dedicated Advisor support through the entire journey

👎 Cons to Consider

• Not suitable for commercial or highly complex mortgages
• Some lenders still require extra documentation from newcomers
• Mortgage rules change often, so guidance is important

🎉 Get Started With Dealerhop + Homewise

Dealerhop and Homewise make homeownership in Canada simpler for immigrants and new arrivals. Whether you’re buying your first home, renewing your mortgage, or refinancing to save money, the process is designed to be welcoming, transparent, and affordable.

With 30+ lenders competing for your business and Advisors explaining everything clearly, newcomers finally get a mortgage experience that feels fair and empowering.

👉 Apply anytime, from anywhere.
👉 Get personalized options in minutes.
👉 No pressure, no fees, no confusion.

Your Canadian homeownership journey starts here — and it’s easier than you think.