As a new immigrant to Canada, one common issue is, no credit. Lucky for you, the New To Canada Program to help you become a homeowner too and here's what you need to know.
1. You are eligible for this program if you have been in Canada for 5 years or less.
2. You must have a work permit or verification of landed immigrant status to qualify
3. Paying your rent and utilities on time matters. Banks will look at this to confirm you were able to manage your financial responsibilities as a renter in order for you to qualify for this program.
4. You must have current employment in Canada for a minimum of 90 days.
5. You are eligible for this program with a down payment as little as 5%