New to Canada · newcomers, permanent residents & work permits · Calgary & all of Alberta
We just moved here. Can we get a mortgage yet? Newcomer mortgages in Calgary
Usually sooner than people expect — and having no Canadian credit history is a documentation problem, not a disqualification.
About 20 minutes, no credit check to start, no obligation. Or call (403) 241-3255.
Josh Tagg is a Calgary mortgage broker who places newcomer files across Alberta — permanent residents, landed immigrants and people buying on a work permit. He leads the Mortgages for Less team at INDI Mortgage, has been arranging mortgages in Alberta since 2006, took over the brokerage his father founded in 2003, and is licensed by the Real Estate Council of Alberta. The team holds a 5.0 rating from close to 300 Google reviews. This office keeps something most brokers do not: a maintained library of the actual New to Canada program rules from roughly fifteen lenders’ own broker guidelines — who accepts a work permit, whose residency window is five years and whose is now none, what each one accepts instead of a credit bureau, and which ones quietly have no newcomer program at all. That library is why the answer on a first call is usually a shortlist of lenders rather than “let’s see what happens.” If you have landed in the last few years and want to know whether you can buy now or what you would need to change, send us your situation and we will tell you which lenders fit and what they will ask for. Book a call, apply online, or phone (403) 241-3255.
Every figure on this page is taken from a lender’s own broker guidelines, as recorded in this office’s lender library in September 2026. Programs change often — several of the rules below changed in 2026 alone — so treat this as the shape of the market, not a quote, and let us confirm the current rule on your file.
The three things a lender is actually testing
Newcomer lending sounds complicated and mostly is not. Almost every program comes down to the same three tests, in this order.
| The test | What lenders typically want | Where people get caught |
|---|---|---|
| Status | Permanent resident or landed immigrant status, or a valid work permit | Plenty of lenders accept the first and refuse the second. See the next section. |
| Time in Canada | Relocated within the last five years at most lenders; three months of full-time Canadian employment for permanent residents | Being too established can end the program — past five years you are usually a normal applicant, which is generally better. |
| Credit evidence | An international credit report, or documented rent, utility and banking history instead | Which evidence is enough depends on your loan-to-value, not your story. See the ladder below. |
“Do you have a New to Canada program?” is the wrong question
This is the single most useful thing on this page, and you will not find it on another broker’s site. Having a New to Canada program and lending to someone on a work permit are two separate policies, and at the same lender the answers are frequently different. A file that is straightforward for a permanent resident can be nearly unplaceable for a temporary resident at the very same institution.
| Lender | New to Canada program | Lends on a work permit (non-permanent resident) |
|---|---|---|
| First National | Yes | Yes |
| Scotiabank (StartRight) | Yes | Yes — same terms as a permanent resident |
| Home Trust (Accelerator) | Yes | Yes |
| Strive | Yes | Yes |
| TD | Yes — insured and conventional | Yes |
| ATB (Smart Start) | Yes — must be insured, Alberta residents | Work permit accepted under the program; no separate non-permanent resident lending |
| MCAP | Yes — from 5% down | Within the program only; no separate non-permanent resident financing |
| RFA Alternative | Yes, conditional | No non-permanent resident funding |
| MCAP Eclipse | No program at all | No |
Read the bottom three rows again. Sending a work permit file to the wrong lender does not get you a worse rate — it gets you a decline, and a decline you did not need costs you a credit inquiry and two weeks. This is most of what a broker is actually for on a newcomer file.
Reverse mortgage lenders are a separate story: newcomer programs are insured products, and reverse mortgages are not insured, so they do not apply there at all.
What counts as credit when you have no Canadian credit history
Nobody expects you to have a Canadian bureau eight months after landing. Lenders have a defined substitute, and how much of it you need is set by your loan-to-value — the more you put down, the less you have to prove. Here is one prime lender’s ladder, quoted in structure from its own broker guidelines:
| Your loan-to-value | What is accepted instead of a Canadian bureau |
|---|---|
| 90.01% – 95% LTV (roughly 5–10% down) | A Canadian or international credit report; or rental payment history confirmed by a letter from your landlord and supported by 12 months of bank statements, plus at least one utility account confirmed by the provider or 12 months of bills. All payments must be on time. |
| 90% LTV or less (10% down or more) | A Canadian or international credit report; or a reference letter from your bank in your country of origin confirming a satisfactory relationship of at least six months; or six months of verifiable statements from a recognised Canadian or home-country financial institution. |
Letters must be in English or French. Another lender accepts an international bureau from Equifax or TransUnion, or two alternative sources each showing a 12-month history — rent, utilities, phone, cable or car insurance. And one lender updated its program in April 2026 to start accepting Australian and New Zealand credit bureaus, which had not previously counted.
How much down payment, and where it is allowed to come from
Newcomer programs follow Canada’s normal minimums: 5% on the first $500,000 of the purchase price and 10% on the portion above $500,000. On a $600,000 home that is $25,000 plus $10,000 — $35,000.
The part that catches people is the source. One lender requires the minimum 5% to come from your own resources, with anything above that allowed as a gift from an immediate family member, and borrowed down payment is not eligible under the program. Another requires the down payment to come from your own resources entirely. So money that arrives from overseas needs a clear, documented ninety-day trail — and starting that paperwork early is usually the difference between closing on time and not.
What gets counted that you might not expect
- Debts you hold outside Canada are included in your ratios. A car loan or a mortgage in your home country counts against you here, at several lenders explicitly. Declare it — it will surface.
- Rental income from property abroad is usually excluded. You carry the foreign debt but often cannot use the foreign income against it, which is the single most common reason a newcomer file qualifies for less than the borrower expected.
- Foreign employment income is generally not accepted in qualifying ratios either. Lenders want Canadian income, which is why the three-month employment rule exists.
- Stated income is not permitted on these programs. If you are self-employed here, a newcomer program may not be the right lane at all — see self-employed mortgages in Calgary.
- Some programs are purchase-only, and some cap the property value — one at under $1,000,000. One lender changed its rules in May 2026 so newcomers became eligible for insured and insurable transfers as well, which matters at your first renewal.
If you are here on a work permit, the federal purchase ban still applies
Separate from any lender rule, Canada restricts the purchase of residential property by non-Canadians. Lender guidelines reference it directly — work permit holders must be purchasing in compliance with the Prohibition on the Purchase of Residential Property by Non-Canadians Act, and at least one lender excludes people with diplomatic status outright. The exemptions are real and many work permit holders qualify under them, but this is a legal test that sits on top of the mortgage test and gets checked. We have written about the ban and its extensions here. Josh Tagg is a mortgage broker, not an immigration lawyer — if your status is unusual, get the legal question answered before you write an offer, not after.
Which insurer program you land in, and why it matters
Almost every newcomer mortgage with less than 20% down is default-insured, and there are three insurers, each with its own newcomer product: CMHC’s Newcomers program, Sagen’s New to Canada program, and Canada Guaranty’s Maple Leaf Advantage. Some lenders simply follow whichever insurer the deal is sent to — one Alberta lender’s guidelines say exactly that. It matters because when a lender says no, the real question is often which insurer said no and would another one say yes. That is a question a broker can ask and a branch generally cannot.
What happens, step by step
| Stage | What happens | What we need from you |
|---|---|---|
| Status and timing | We establish which programs you are eligible for today, and which open up later | PR card, confirmation of permanent residence, or your work permit — and your landing date |
| Credit evidence | We work out what you can prove, and therefore what down payment makes your file easiest | Any international credit report, plus rent, utility and bank history |
| Lender shortlist | We match your status and evidence against the lenders that actually accept them — before any credit is pulled | Nothing. This is the part that stops an unnecessary decline |
| Down payment trail | We document the source and, where money is coming from overseas, start the paper trail early | 90 days of statements for the accounts the money sits in |
| Pre-approval | A real number to shop with, and a written list of what the lender will want at the offer stage | Employment letter and recent pay statements |
| Offer and funding | Conditions cleared, insurer approval, lawyer and keys | The accepted offer, and quick answers on document requests |
These programs change — and that is the argument for asking someone who tracks them
Newcomer programs move more than any other corner of Canadian lending. In 2026 alone, at one lender we track: Australian and New Zealand credit bureaus became acceptable (April), the requirement to have immigrated within the last 60 months was removed entirely (April), newcomers became eligible for insured and insurable transfers (May), and the 90-day job tenure requirement was dropped where the employer is an easily identifiable, established company (June).
Any one of those four changes could be the difference between yes and no on your file. A page written last year, or an answer from someone who last looked at a newcomer file last year, would get all four of them wrong. That is the whole case for this page and for the phone call at the end of it.
When the honest answer is “not yet”
- You have been in your job under three months and your employer is small or hard to verify. At most lenders that is a wait, not a no — and at one lender, if your employer is well known, it may not even be a wait.
- You opened Canadian credit and it went badly. A score between 1 and 599 can be worse than no score. The fix is months of clean history, not a different lender.
- Your down payment cannot be documented. Cash that appears without a trail will stall a file at the worst moment. Ninety days of statements solves it; start now.
- Your income is self-employment here. Newcomer programs do not permit stated income. There is a better lane — it is just a different one.
- You are on a work permit and already own a property in Canada. Mortgaged or not, that closes the newcomer programs. The route then is a standard application on its own merits, which is a different conversation — and worth having, because it is not necessarily a no.
- You are past the five-year window. Usually good news: you are a normal applicant with more choice and better pricing, not a special case.
Real Alberta files
We write these regularly. One recent file we are publishing in full is a newcomer who bought her first home on one modest income, where the work was in evidencing credit history and structuring the down payment rather than in finding more income. That case study publishes on 30 October 2026 and will be linked here the day it goes live — we do not link articles before they exist.
In the meantime, our plain-language guide to buying a home in Alberta as a newcomer covers the buying process itself — offers, deposits, closing costs and what happens on possession day.
Who this page is for
- You landed in the last five years as a permanent resident and want to know whether you can buy now.
- You are in Calgary on a work permit and keep being told different things by different banks.
- You have no Canadian credit history, or a very short one, and a bank has told you to come back in a year.
- You have savings and an income but the down payment came from overseas.
- You have been declined once already and want to know whether it was your file or the wrong lender.
Where we work
Mortgages for Less with INDI Mortgage is a Calgary brokerage and we take newcomer files across Alberta — Calgary, Edmonton, Red Deer, Lethbridge, Fort McMurray, Airdrie, Okotoks and the smaller centres in between. One Alberta lender’s newcomer program is open only to Alberta residents, which is a small advantage of working with a broker who is actually here. This page sits alongside the rest of our mortgage services.
★ 5.0 · 293+ Google reviews
What Alberta homeowners say
Really good experience with the Mortages for Less Team. Tamar was very attentive to our needs.
Tamar was great to deal with. Efficiently got me everything I needed... And more. Thanks Tamar
Josh provided me with good advice and did not waste my time.
Easy to approach.understanding and very professional.
Didn’t end up getting a mortgage through him but Josh was incredibly helpful and provided objective advice.
Tamar is truly amazing and so patient. She helped us through the entire process (which was quite confusing to be honest). Highly recommend.
I recently used their service, Tamar was my broker and she did a great job. She solved all our doubts and gave us the best service.
Tamar was super helpful throughout the process of helping us renew our mortgage. We changed mortgage providers, but Tamar made the process smooth.
Common questions about newcomer mortgages in Alberta
How long do I have to be in Canada before I can get a mortgage?
Less time than most people assume. Newcomer programs are built for people who have relocated within the last five years, and there is no minimum number of years in the country. What most prime lenders want instead is three months of full-time Canadian employment, and one lender has removed even that where the employer is an easily identifiable, established company. Eight months in the country with a steady job is a perfectly normal newcomer file.
Can I get a mortgage on a work permit, or do I need permanent residency?
You can buy on a valid work permit at several lenders, but this is the question that decides where your file goes. Having a New to Canada program and lending to non-permanent residents are two separate policies, and the same lender often does one and not the other. Some lenders record no non-permanent resident financing at all. On top of the lender rule, work permit holders must be purchasing in compliance with Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act. And one rule holds everywhere: a non-permanent resident who already owns a property in Canada, mortgaged or not, is excluded from these programs entirely.
Can I buy with no Canadian credit history?
Yes. Lenders have a defined substitute: an international credit report, or documented alternative credit such as rental payment history confirmed by your landlord with 12 months of bank statements, plus a utility account. How much you need depends on your loan-to-value — at 90.01–95% LTV lenders want more evidence than at 90% or less. One lender began accepting Australian and New Zealand credit bureaus in April 2026.
Is a credit score of zero a problem?
No, and this surprises people. One lender’s guidelines specify a minimum of “0 or 600+” and state that scores of 1 to 599 are not eligible; another records that zero is accepted for newcomers without Canadian credit. In other words, having no Canadian credit is workable, while having a little bad Canadian credit can be worse. If you have just arrived, be careful what you open in your first year.
How much down payment do I need as a newcomer?
The normal Canadian minimums: 5% on the first $500,000 of the price and 10% on any portion above that, so $35,000 on a $600,000 home. The catch is the source — at least one lender requires the minimum 5% to come from your own resources, allows a gift from an immediate family member above that, and does not permit borrowed down payment on the program at all. Money arriving from overseas needs a documented 90-day trail.
Can I use my income or my property from my home country?
Generally no on the income, and usually no on foreign rental income either — while the foreign debt still counts against you. Several lenders state explicitly that debts held outside Canada are included in your qualifying ratios and that rental income from abroad is excluded. This asymmetry is the most common reason a newcomer file qualifies for less than the borrower expected, so tell your broker about overseas property and loans at the start.
Which lenders actually have a New to Canada program?
Most major ones do, including TD, Scotiabank through StartRight, First National, MCAP, Home Trust, Strive and ATB through its Smart Start program — but not all. At least one alternative lender records no New to Canada program and no non-permanent resident program at all. Reverse mortgage lenders do not offer them because newcomer products are default-insured and reverse mortgages are not.
What is the CMHC Newcomers program?
It is the default-insurance program that sits behind most newcomer mortgages with less than 20% down. There are three insurers in Canada, each with a newcomer product: CMHC’s Newcomers program, Sagen’s New to Canada program, and Canada Guaranty’s Maple Leaf Advantage. Some lenders simply follow whichever insurer the file goes to. That matters, because when a file is declined the real question is often which insurer declined it and whether another would approve.
Do I need to be a first-time buyer?
It depends on your status, and this one is a hard line. If you are not yet a permanent resident and you already own a property in Canada — mortgaged or owned outright — New to Canada programs are closed to you across the board. Every one of these programs is written to get a newcomer into a first Canadian home, so a work permit holder who already owns here cannot use one to buy a second. Permanent residents have more room: owning property is not automatically disqualifying, and one bank’s program allows up to two Canadian properties. Property in another country does not usually make you ineligible either, but its debt comes into your ratios.
Can I refinance or switch lenders later on a newcomer mortgage?
Some programs are purchase-only, which is worth knowing before you sign a first mortgage you may want to move. This is changing: one lender made newcomers eligible for insured and insurable transfers in May 2026. By your first renewal you will usually have Canadian credit history and Canadian income on file, which normally puts you into standard products with more competitive pricing.
I was declined by my bank. Does that mean I cannot buy?
Often it means the file went to the wrong place. A branch can offer you its own programs; if your status or credit evidence does not fit them, the answer is no, and it is the only answer available there. A broker’s job on a newcomer file is to match your status and your evidence against lenders that accept them before any credit is pulled, so a decline does not cost you an inquiry and two weeks.
Do I pay a fee to use a broker?
On a typical residential mortgage, no — the lender pays the brokerage, not you. That is the same whether you are a newcomer or have been here thirty years. Private and some specialty mortgages work differently, and in those cases any fee is disclosed in writing before you sign anything.
Do you help newcomers outside Calgary?
Yes. We work with newcomers across Alberta, including Edmonton, Red Deer, Lethbridge and Fort McMurray. One Alberta lender’s newcomer program is restricted to Alberta residents, which is a small advantage of working with a brokerage based in the province.
Tell Josh Tagg when you landed and what you can prove. We will tell you which lenders fit.
A straight answer on the first call: whether you can buy now or what would have to change, which lenders accept your status and your credit evidence, and what to start documenting today.
Apply online Book a discovery call
Or call (403) 241-3255. Josh Tagg, Mortgages for Less with INDI Mortgage — licensed by the Real Estate Council of Alberta.
Program details on this page are drawn from lenders’ own broker guidelines as recorded in this office’s lender library in September 2026, and are summarised for readability. Lender and insurer programs change frequently — several of the rules described here changed during 2026 — and every rule is subject to the lender’s and the insurer’s own current guidelines and approval. Nothing here is a promise or prediction of outcome, an offer of credit, or a quote, and no lender is named as a recommendation. Eligibility, qualification, costs and results vary by borrower, property, status and lender. Josh Tagg is a mortgage broker, not an immigration lawyer or a tax adviser; questions about immigration status or the Prohibition on the Purchase of Residential Property by Non-Canadians Act should go to a qualified professional. This page is general information, not financial, mortgage, tax, immigration or legal advice. Mortgages for Less with INDI Mortgage.