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New to Canada

New to Canada Mortgages in Atlantic Canada

Welcome! Moving to a new country is a monumental journey. Whether you have chosen to build your future in the vibrant streets of Halifax, the historic communities of Port au Choix, or the scenic landscapes of Shediac, finding a place to truly call "home" is the most important step in putting down roots. However, navigating the Canadian mortgage process as a newcomer can easily feel confusing.

At UMG Atlantic, we specialize in helping newcomers navigate the path to homeownership with clarity and respect. We partner with top-tier institutional insurers and lenders to offer specialized "New to Canada" frameworks designed specifically for individuals who may not have a deep Canadian credit history yet. Our goal is to ensure your transition to Atlantic Canadian life includes a smooth, stress-free path to owning your own front door.

Here are the straightforward answers to the most common questions about buying your first Canadian home:

How soon after arriving in Canada can I apply for a mortgage?

There is no mandatory multi-year waiting period to purchase a home. As long as you have officially obtained Permanent Residency (PR) status or hold a valid Canadian work permit, you can begin the mortgage application process as soon as you have completed 3 months of continuous, full-time employment in Canada.

Source: Sagen Canada New to Canada Program - Overview

What if I don't have a Canadian credit score yet?

If you haven't been in the country long enough to establish a traditional North American credit rating, do not worry. Specialized newcomer programs allow us to verify your financial reliability using alternative credit sources. We can build an official credit profile for you by showing 12 months of consistent, on-time payments for things like your Canadian rental housing, local utility bills, auto insurance, or cell phone plans.

Source: Sagen Canada New to Canada Program - Credit

How much down payment do I need as a newcomer?

For qualified permanent residents and valid work permit holders, down payment requirements start as low as 5% for a primary, one-unit residential home valued under $500,000. For homes priced between $500,000 and $1.5 million, you need 5% on the first $500,000 and 10% on the remaining balance. Anything over $1.5 million requires a full 20% down payment. The down payment must come from traditional, verifiable sources, such as your personal savings or a non-repayable gift from an immediate family member.

Source: Canada Mortgage and Housing Corporation (CMHC)

Can I legally buy a home in Canada if I am currently on a work permit?

Yes. While Canada currently has a temporary federal restriction on foreign property ownership, valid work permit holders are explicitly exempt from this ban under specific conditions. To qualify for this exemption, your work permit must have at least 183 days of validity remaining on the day of purchase, and you must intend to purchase no more than one residential property as your primary home.

Source: Prohibition on the Purchase of Residential Property by Non-Canadians Regulations

Are there extra real estate taxes for newcomers in Atlantic Canada?

If you hold Permanent Residency (PR) status or a valid work permit and intend to live in the property yourself, you are safely exempt from federal foreign buyer restrictions. Provincially, rules vary. For example, Nova Scotia enforces a Non-Resident Provincial Deed Transfer Tax of 10%. Crucially for newcomers, you are completely exempt from this 10% tax if you move to Nova Scotia and establish your residency within 6 months of your closing date. Your residential real estate lawyer will provide guidance on completing the proper paperwork at closing so that you only pay the standard municipal land transfer taxes that every local resident pays.

Source: Government of Nova Scotia Non-Resident Deed Transfer Tax

Take Root in Canada with UMG Atlantic

At UMG Atlantic, we believe our Atlantic Canadian communities grow stronger every time a new family safely puts down roots. Let us manage the complexities of newcomer financing, coordinate with your real estate team, and handle the heavy lifting behind the scenes so you can focus entirely on settling into your new life. Connect with our team for a friendly, no-obligation conversation today.

Book a Free Newcomer Consultation

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