Newcomer Mortgages

Nova Scotia is home. Let's get you into it.

Whether you just arrived or have been building your life here for a few years, there are mortgage options designed for your situation. Here's how it works.

Eligibility

Find your situation.

PR

Permanent Resident

Permanent residents qualify for the same mortgage products as Canadian citizens. With a Canadian credit history, the process is nearly identical.

Minimum down payment

5% on purchases under $500,000 (standard rules)

Time in Canada

No minimum required

Employment

Confirmed Canadian employment preferred. Foreign income may count with documentation.

Credit

Canadian credit preferred. International credit reports accepted by some lenders.

  • Insured mortgages available at 5% down
  • International credit history accepted by select lenders
  • Foreign income can be used if documented and converted to CAD
WP

Work Permit Holder

Work permit holders can qualify for a mortgage in Canada. Requirements vary by permit type, remaining validity, and employer.

Minimum down payment

5% if insured with a valid permit. Some lenders require more without insurance.

Time in Canada

Typically a few months of Canadian employment

Employment

Active Canadian employment, with enough time left on the permit or a renewal pending.

Credit

Canadian credit preferred. Some lenders accept foreign or alternative credit.

  • Permit must be valid with sufficient time remaining
  • An employer letter confirming a permanent role strengthens the file
  • Your down payment source needs to be documented
PP

Protected Person

Protected persons and Convention refugees are eligible for financing. Eligibility depends on documentation and the lender.

Minimum down payment

5% to 10% depending on lender and insurer

Time in Canada

No fixed requirement, but stable Canadian income is usually needed

Employment

Canadian income required. Self-employment is possible with documented income.

Credit

Limited Canadian credit is acceptable. Some lenders specialize in thin-file applications.

  • Protected person status document required
  • Working with a broker rather than one bank significantly widens your options
  • A settlement-agency or legal letter can support the application

What to bring

Your document checklist.

Identification

  • Valid passportRequired
  • PR card or immigration documentRequired

    Specific to your status

  • Social Insurance Number (SIN)Required

Income and employment

  • Two most recent pay stubsRequired
  • Employment letter on company letterheadRequired

    Confirms role, salary, start date

  • Notice of Assessment (NOA)Optional

    If you have filed in Canada

  • Foreign income documentationOptional

    For income earned abroad

Down payment

  • 90-day bank statements showing the fundsRequired
  • Gift letterOptional

    If any portion is a gift

  • Foreign account and conversion recordsOptional

    If funds came from abroad

Work permit holders

Work permit
  • Valid work permitRequired
  • Proof of pending renewalOptional

    If the permit is expiring

Lender programs

Programs built for newcomers.

Insured newcomer programs

Mortgage insurer

PR · Work Permit · Protected Person

  • 5% minimum down on purchases up to $500,000
  • International credit accepted as an alternative to Canadian history
  • Available through most Canadian lenders

Insurers are not lenders. I'll find the lenders that accept international credit under these programs.

Bank newcomer programs

Chartered bank

PR · Work Permit

  • Newcomer specialists at several major banks
  • Bundled products to help establish Canadian credit
  • Fixed and variable options

Each bank sets its own criteria. I'll match you to the one that fits your profile.

Monoline and alternative lenders

Monoline / alternative

PR · Work Permit · Protected Person

  • More flexible on permit types and credit history
  • Can consider self-employed newcomers with a shorter track record
  • Reached only through a licensed broker

These lenders aren't available to the public directly. That's where a broker matters.

Common questions

Questions newcomers ask us.

Can I get a mortgage without Canadian credit history?

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Often yes. Several lenders and insurers accept alternative credit evidence or international credit reports. I'll find the ones that fit your situation.

How long do I need to be in Canada before applying?

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Permanent residents can apply right away. Work permit holders usually need a few months of Canadian employment. More established income widens your options.

Can I use money from my home country as a down payment?

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Yes, but it has to be documented. Lenders want 90-day statements and a clear paper trail for any large transfer.

Do I need to be a citizen to buy a home in Nova Scotia?

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No. Permanent residents, work permit holders, and protected persons can all buy. The federal foreign-buyer restriction doesn't apply to people living and working in Canada.

Not sure which path is yours?

Wherever you are in your move to Nova Scotia, there's a way to owning a home here. Let's find it together.

Ready to start the application? Apply now. It takes about fifteen minutes, and nothing is submitted to a lender until we have talked.