Can I get a mortgage in Canada on a work permit?

Yes. Many lenders will approve work permit holders provided the permit has at least 12 months remaining at the time of application and you have stable Canadian employment income. Most work permit holders need a minimum 20–35% down payment. OAC.

What documents do newcomers need for a mortgage in Ontario?

Typically: passport, PR card or work permit, last 2 pay stubs, employment letter, 3–6 months Canadian bank statements, and proof of down payment. If you have no Canadian credit, an international credit report (Equifax or Experian from your home country) and reference letters from your home bank help significantly.

How much down payment do I need as a newcomer to Canada?

Permanent residents can qualify for as little as 5% down on homes under $500,000 through CMHC-insured programs. Work permit holders typically need 20–35% depending on the lender and permit type. Foreign workers and those with no Canadian credit history may need 35% or more at certain lenders — though B-lenders and private lenders offer more flexible options. OAC.

What if I'm denied a mortgage because of no Canadian credit history?

A bank denial is not the end of the road. B-lenders and private mortgage lenders evaluate your overall financial picture — down payment size, employment stability, and assets — rather than relying solely on Canadian credit history. Paul Hunjan works with 50+ lenders across all tiers to find the right fit. OAC.

Can I use foreign income to qualify for a Canadian mortgage?

Some lenders will consider documented foreign income, particularly from countries with reliable income verification. A larger down payment (35%+) usually opens more lender options when foreign income is the primary income source. OAC. Subject to lender guidelines.

Newcomer Mortgage Specialist — Ontario

New to Canada Mortgage Ontario

No Canadian credit history. Work permit instead of PR. Foreign income. The banks have a checklist — and newcomers often don't tick every box. Paul Hunjan has been placing mortgages for Ontario's newcomer community for 15+ years. There are more options than your bank told you.

Get Your Free Assessment 📞 416-820-8601

Min. down payment
for permanent residents

50+

Lenders including
newcomer specialists

Broker fee on
most transactions

Who Paul Helps

✓ Permanent residents — 5% down, no credit history needed
✓ Work permit holders — options available with 20%+ down
✓ Foreign workers with Canadian employment
✓ Newcomers with no Canadian credit score
✓ Clients using international credit references
! Bank declined? B-lenders and private options exist
! Foreign income? Specialist lenders available OAC

Start Your Assessment →

Your Status Matters

Different Immigration Status — Different Mortgage Options

Lenders treat permanent residents, work permit holders, and foreign workers differently. Knowing which category you're in determines your minimum down payment, which lenders will consider you, and what documents are required.

Permanent Resident (PR)

Best Options Available

As little as 5% down on homes under $500,000
CMHC Newcomer to Canada program — waives 2-year credit history
Alternative credit accepted: rental history, utility bills, international credit report
Access to A-lenders, B-lenders, and private lenders
Same rates as Canadian-born residents in most cases

OAC. Rates subject to change. CMHC insurance premium applies on down payments below 20%.

Work Permit Holder

Solid Options With Right Lender

Minimum 20–35% down payment typically required
Work permit must have at least 12 months remaining
Stable Canadian employment income required
Some major banks participate — varies by lender
B-lenders offer flexibility where banks won't

OAC. Rates and minimum down payment vary by lender and permit type.

Foreign Worker

Specialist Lenders Required

Typically 35% down payment minimum
Foreign income documentation required
Canadian employment letter strengthens application
Fewer lender options — broker network critical
Private lenders available when conventional declines

OAC. Subject to lender guidelines and income verification requirements.

No Canadian Credit History

Alternatives to Credit Score

International credit report (Equifax/Experian from home country)
12–24 months rental payment history from Canadian landlord
Bank reference letter from your home country bank
Canadian utility or cell phone payment history
Larger down payment often compensates for thin credit file

OAC. Individual lender assessment required.

Lender Programs

Newcomer Mortgage Programs — What's Available

Not all lenders offer newcomer programs. Paul knows which ones do, what their criteria are, and how to position your file for the strongest approval.

Program / Lender Type	Who Qualifies	Min. Down Payment	Credit History
CMHC Newcomer to Canada	Permanent residents within 5 years of landing	5%	Alternative credit accepted
A-Lender (Major Banks)	PR with 3–6 months Canadian employment	5–20%	Canadian credit preferred
A-Lender (Work Permit)	Valid permit 12+ months remaining	20–35%	Stable Canadian income required
B-Lender (Alt. Lender)	PR or work permit, flexible income	20%	Alternative credit OK
Private Lender (MIC)	Any status with sufficient equity/down payment	25–35%	Equity-based — no minimum score
Foreign Income Specialist	Documented foreign income, larger down payment	35%+	Income documentation critical

OAC. All rates and programs subject to change. Lender guidelines vary.

How It Works

Four Steps From Application to Keys

Free Consultation

Paul reviews your immigration status, income, down payment, and homeownership goals. No fee, no obligation.

Document Collection

Paul tells you exactly which documents are needed for your specific status. No guesswork, no wasted time.

Lender Matching

Your file goes to the right lender the first time — not all 50. Paul knows who approves newcomer files and on what terms.

Approval & Close

Once approved, Paul guides you through conditions, solicitor requirements, and closing. You get the keys.

Be Prepared

Documents Newcomers Typically Need

Having these ready speeds up your approval significantly. Paul will tell you exactly which apply to your situation.

Identity & Immigration

✓ Valid passport (current)
✓ PR card or work permit
✓ Landing document (IMM 5292 or COPR)
✓ SIN number (if issued)

Income & Employment

✓ Canadian employment letter (on letterhead)
✓ 2 most recent Canadian pay stubs
✓ 3–6 months Canadian bank statements
✓ Foreign income documentation (if applicable)

Down Payment

✓ 90-day history of down payment funds
✓ Gift letter (if down payment is a gift)
✓ RRSP withdrawal confirmation (if using HBP)
✓ International wire transfer records (if funds from abroad)

Alternative Credit (if no Canadian credit)

✓ International credit report from home country
✓ 12 months rental payment history (letter from landlord)
✓ Reference letter from home country bank
✓ Canadian utility/cell phone payment history

Funds from Outside Canada?

Many newcomers bring their down payment from their home country. This is allowed, but lenders require a full paper trail — wire transfer records, source of funds documentation, and 90-day history once landed in a Canadian account. Paul will walk you through exactly what's needed so there are no surprises at approval.

Paul Hunjan
Mortgage Broker #M09001187
MA Mortgage Architects #12728
FSRA Ontario Licensed
416-820-8601
paul@gtamortgagesolutions.ca
256 Queen Street West, Brampton ON

Why Paul

Brampton's Newcomer Community Has Been Trusting Paul for 15+ Years

Brampton and Mississauga have some of Ontario's highest concentrations of newcomer families — South Asian, Filipino, African, Caribbean, and beyond. Paul Hunjan has been placing mortgages in this community since 2009 and understands the specific challenges newcomers face: the thin credit file, the foreign income, the down payment arriving from abroad, the lenders who simply won't consider a work permit holder.

Paul speaks English, Punjabi, and Hindi — and works with a network that covers a broader range of languages. He doesn't translate the mortgage system for newcomers as an afterthought. It's been core to his practice from day one.

His lender network includes banks with dedicated newcomer programs, B-lenders that flex on credit history, and private lenders who focus on equity and down payment when immigration status or income creates barriers at conventional institutions.

Book Your Free Consultation

Common Questions

New to Canada Mortgage — FAQ

Yes. CMHC's Newcomer to Canada program allows permanent residents to qualify for an insured mortgage with as little as 5% down, even without a 2-year Canadian credit history. Lenders will use alternative credit references — international credit reports, rental payment history, utility bills — instead. OAC.

Yes. Many lenders will approve work permit holders provided the permit has at least 12 months remaining at time of application and you can demonstrate stable Canadian employment income. Most work permit holders need a minimum 20–35% down payment. B-lenders offer more flexibility than the big banks for this situation. OAC.

Typically: passport, PR card or work permit, last 2 Canadian pay stubs, employment letter, 3–6 months Canadian bank statements, and 90-day proof of down payment funds. If you have no Canadian credit, an international credit report and a reference letter from your home country bank help significantly. Paul will give you a precise checklist based on your exact situation.

Permanent residents can qualify for as little as 5% down on homes under $500,000 through CMHC-insured programs. Work permit holders typically need 20–35%. Foreign workers with no Canadian employment may need 35%+. A larger down payment almost always opens more lender options. OAC.

Yes — this is very common. Lenders require a full paper trail: documentation of the funds' origin, international wire transfer records, and 90 days of Canadian bank statements showing the funds landed and remained in a Canadian account. Paul will walk you through exactly what documentation is needed to satisfy the lender.

A bank denial is not the end. B-lenders and private mortgage lenders evaluate your overall financial picture — down payment size, employment, assets, and equity — rather than defaulting to a credit score checklist. Paul works with 50+ lenders across all tiers. Many newcomer files that banks decline get approved through alternative channels. OAC.

Compliance Notice: Paul Hunjan (Mortgage Broker Licence #M09001187) operates under MA Mortgage Architects (Brokerage Licence #12728), regulated by FSRA Ontario. All mortgage approvals subject to lender qualification, appraisal, and applicable terms (OAC). Rates and programs subject to change. CMHC newcomer programs subject to CMHC guidelines. This page is for informational purposes and does not constitute an offer to lend. Compliant with FSRA mortgage brokering regulations and Google advertising policies.