If you are a new immigrant getting a mortgage in Canada has never being easier. You can qualify for a standard mortgage of up to 95% of borrowing. That is right 95%. This program is open for all new immigrants with permanent residency, temporary residency or working visa.
Guidelines for qualification are
Mist have landed in Canada within the last three to 5 years (depending on lender)
Must have full time permanent employment over 3 months.
Must have down payment of at least 5%.
5% from own resources. Any down payment over 5% can come from gift.
Must have two sources of credit information such as rental agreement, phone bill, bank account etc.