Buying Your First Home as a Newcomer to Canada
New to Canada, ready to own
Many of my clients arrived in Canada within the last few years and are now ready to stop renting. The process is different when your credit history is new and your income is recent, but it’s very doable with the right plan, and it’s easier to understand in your own language.
Can you buy?
- Canadian citizens and permanent residents can buy residential property with no restrictions.
- Non-Canadians are restricted by the federal Prohibition on the Purchase of Residential Property by Non-Canadians Act, currently in effect until January 1, 2027, with exceptions for some work permit holders and others.
- Ontario’s Non-Resident Speculation Tax (25%) can apply to foreign nationals buying residential property, even where the federal ban has an exception. Some exemptions and rebates exist, for example for people who become permanent residents.
If you’re not yet a permanent resident, talk to a real estate lawyer before you start looking.
Getting a mortgage as a newcomer
1Start building credit early.
A Canadian credit card used lightly and paid in full each month builds your score faster than you think.
2Talk to a mortgage agent about newcomer programs.
Several lenders offer programs for recent immigrants, which may accept shorter Canadian work history or international credit references.
3Document your down payment.
Lenders need to see where the money came from, including funds sent from outside Canada, usually with 90 days of history.
How I help
- Explanations in English, Hindi, Punjabi, Urdu, Kannada or Telugu, so nothing gets lost in translation
- A mortgage agent and lawyer who work with newcomers every day
- Neighbourhood advice on schools, commute, places of worship and community
- A clear walk-through of every document before you sign
Questions people ask
Can a newcomer buy a house in Ontario?
Permanent residents can buy without restriction. Temporary residents and foreign nationals are affected by the federal foreign buyer ban (in effect until January 1, 2027) and may owe Ontario’s 25% Non-Resident Speculation Tax, subject to exemptions.
Can I get a mortgage without Canadian credit history?
Some lenders offer newcomer programs that consider international credit references and shorter employment history in Canada. A mortgage agent can compare options.
Can I work with Sandeep Pawar in Punjabi or Hindi?
Yes. Sandeep Pawar works in English, Hindi, Punjabi, Urdu, Kannada and Telugu.
Selling, buying, or just thinking about it?
A free, no-pressure conversation about where you are, where you want to be, and the smartest way to get there. Calls returned the same day, seven days a week.
Sandeep Pawar, Broker · RE/MAX Gold Realty Inc., Brokerage · 2720 North Park Drive, Suite 201, Brampton, ON L6S 0E9 · All offices