# How can newcomers to Canada qualify for a mortgage without Canadian credit history?

> Newcomers can qualify through CMHC's Newcomer Program or major-bank newcomer programs using international credit history, employment letters, and a 5–35% down payment depending on residency status.

Category: Purchasing
Last verified: 2026-04-19
Source: https://ratellow.com/faqs/purchasing/newcomer-mortgage-qualification-canada

## Answer
Newcomers to Canada face the challenge of limited or no Canadian credit history. Several pathways exist. CMHC's 'New to Canada' program accepts permanent residents (PR), non-permanent residents (NPR) with valid work permits, and landed immigrants within 5 years of arrival. Requirements: minimum 5% down for PRs (10% for non-permanent residents on insured deals), 12–24 months of employment in Canada or confirmation of employment prior to arrival, and international credit references (foreign bureau report, reference letters from foreign financial institutions). Major banks (RBC, TD, Scotiabank) have dedicated newcomer programs that may offer special rate pricing. Key documents: passport, PR card or work permit, proof of income (employment letter, recent pay stubs), international credit bureau report or 12 months of foreign bank statements, and a Canadian bank account showing 90-day transaction history. OSFI's B-20 stress test still applies — all newcomers must qualify at the greater of their contract rate + 2% or 5.25%.

## Institutional highlights
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## Related guide
- https://ratellow.com/guides/newcomer-canada-mortgage

## Sources
- CMHC New to Canada Mortgage Insurance — https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/newcomers