Ontario mortgage help

Mortgages for newcomers to Ontario

A limited Canadian credit history does not by itself explain the available mortgage options. Prepare immigration status, income, down-payment history, housing payments, and any recognized credit evidence before comparing lenders.

Reviewed September 1, 2026Published by Ontario Mortgage HelpHow we review

What to do first

  1. Confirm the immigration and work-status documents that will remain valid through the application and closing.

  2. Start building Canadian credit and obtain your reports before applying so errors or missing accounts can be addressed.

  3. Document the source, transfer history, and time held for the down payment and closing funds, including money arriving from outside Canada.

  4. Compare the mortgage, insurance eligibility, closing costs, land transfer tax, and a household budget before making an offer.

Important considerations

Foreign credit is not treated uniformlyAsk which international credit reports, reference letters, or alternative payment records the specific lender and insurer will accept.

Transferred funds need a clear historyLarge deposits, gifts, and international transfers may require source-of-funds evidence and sufficient processing time before closing.

Pre-approval remains conditionalThe lender must still review the complete borrower file, property, documents, down payment, and any mortgage-insurance conditions.

Official sources

Newcomers: Buying a home in CanadaImmigration, Refugees and Citizenship CanadaGetting your credit report and credit scoreFinancial Consumer Agency of CanadaGetting pre-approved for a mortgageFinancial Consumer Agency of CanadaHow much you need for a down paymentFinancial Consumer Agency of Canada

Related mortgage help

Buying a homeEstimate the payment, closing costs, and a workable budget.First-time home buyerPlan the down payment, taxes, closing costs, and financing.Mortgage pre-approvalUnderstand the budget, rate hold, documents, and limits.