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Mortgages for Newcomers: A Complete Guide | TD Canada Trust

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Explore all mortgage options Today's mortgage rates TD Home Equity FlexLine (HELOC) Flexible mortgage payment features Mortgage offers TD Mortgage Protection

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Buy my first home Buy my next property Renew my mortgage Refinance my mortgage Move my mortgage to TD Newcomer to Canada

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Answer a few questions and we'll call you to match you with a TD Mortgage Specialist.

Request a call

With a new TD mortgage, get up to $5,100 cashback.

Offer expires August 31, 2026. Conditions apply. 

View offer details

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Explore Personal Loan RSP Loan Vehicle Loan Personal Line of Credit Home Equity Line of Credit

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Borrowing Advice

Get helpful insights and tips on how to borrow wisely, manage your payments and make informed financial decisions.

Get more info about borrowing

Student Advice

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Credit Application Guide

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Get more info on borrowing

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Explore all products GICs Mutual Funds Precious Metals Other ways to invest Trade and invest yourself with TD Direct Investing Invest with a TD Wealth Advisor

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EasyWeb WebBroker U.S. Banking My Accounts My Accounts Logout EasyWeb WebBroker U.S. Banking Home / New to Canada / Mortgages

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Home / New to Canada / Mortgages

New to Canada

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New to Canada

With a new TD mortgage, get up to $4,000 cashback.\r\n"}}" id="text-2c9cd4623b" class="cmp-text"> With a new TD mortgage, get up to $4,000 cashback. Offer expires August 31, 2026. Conditions apply.

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Offer expires August 31, 2026. Conditions apply.

Learn more Request a call Buying a home in Canada We understand that purchasing a home in Canada is one of the biggest financial decisions you will make. At TD, we want to make it easier for you to make your home financing decisions. To help you navigate through this process, we've outlined some key things you should know.

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We understand that purchasing a home in Canada is one of the biggest financial decisions you will make. At TD, we want to make it easier for you to make your home financing decisions. To help you navigate through this process, we've outlined some key things you should know.

TD Mortgage Specialists are here to help A TD Mortgage Specialist can offer advice to help you buy your first home in Canada, even if you have no Canadian credit history.1 Here are some ways a TD Mortgage Specialist can guide you along the way:

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A TD Mortgage Specialist can offer advice to help you buy your first home in Canada, even if you have no Canadian credit history.1 Here are some ways a TD Mortgage Specialist can guide you along the way:

Saving for a down payment
Get saving tips to help make it easier and understand how large of a down payment you will need for your situation.

Mortgages and rates
Understand how mortgages work, the different financing options and how they can impact your interest rate.

Mortgage application process
Understand how mortgages fit into the home buying process and what documents you will need to provide for your mortgage application.

Mortgage pre-approval
Understand the benefits of a mortgage pre-approval such as giving you a clearer idea of the mortgage amount you could get approved for and strengthen your position with realtors and home sellers that you’re a serious buyer.

Paying off your mortgage faster 
Learn about the different mortgage features to pay off your mortgage sooner. 

Personalized advice in a variety of languages
Request a call and we can connect you with a TD Mortgage Specialist. You can choose a TD Mortgage Specialist for personalized advice from a variety of languages that we offer. 

View More Have more questions about buying your first home as a newcomer?\r\n"}}" id="text-3d1d522f75" class="cmp-text"> Have more questions about buying your first home as a newcomer? Connect with a Mortgage Specialist Find the right newcomer mortgage solution for you At TD, we have mortgage solutions tailored for newcomers. You could qualify for a mortgage even if you have limited or no Canadian credit history and limited employment in Canada.1 We have different solutions depending on your newcomer status and the amount of your down payment. 

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Keep in mind, a lower down payment means lower upfront costs for you, however you will pay more interest over the life of the mortgage versus a larger down payment.
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At TD, we have mortgage solutions tailored for newcomers. You could qualify for a mortgage even if you have limited or no Canadian credit history and limited employment in Canada.1 We have different solutions depending on your newcomer status and the amount of your down payment. 

Keep in mind, a lower down payment means lower upfront costs for you, however you will pay more interest over the life of the mortgage versus a larger down payment.

For Permanent Residents

If you are currently a Permanent Resident and obtained your permanent resident status in Canada within the last 5 years and have at least 3 months of full-time Canadian employment, we have the following 2 options:

This mortgage solution requires a minimum down payment of 35% of the home purchase price or value of the home, whichever is lower. You don’t have to pay for mortgage default insurance premiums with this option.
If you are unable to meet a minimum down payment of 35%, you will need to pay for mortgage default insurance premiums. This option requires a minimum down payment as low as 5%, however, the purchase price of the house must be under $1.5 million.

For Foreign Workers

If you are a temporary resident with a valid work permit who has relocated to Canada within the last 2 years and have at least 3 months of employment in Canada on a full-time basis, we have the following 2 options:

The minimum down payment for this mortgage solution is 20% of the home purchase price or value of the home, whichever is lower and mortgage default insurance is not required.
If you are unable to meet a minimum down payment of 20%, you will need to pay for mortgage default insurance premiums. This option  requires a minimum down payment as low as 5%, however, the purchase price of the house must be under $1.5 million.
Why choose a TD Mortgage?

Competitive rates & 120-day rate hold2

We offer some special rates4, and with a pre-approved mortgage, we can hold your rate for 120 days2 so you can shop with more confidence.

Flexible mortgage options

Get flexible payment options that may help fit your needs, like the ability to speed up or slow down your mortgage payments.3

No Canadian credit history required for newcomers1

Speak with a TD Mortgage Specialist to see if you're eligible for a TD newcomer mortgage solution, even if you have no Canadian credit history.

Mortgage process for newcomers If you're ready to buy your first home in Canada as a newcomer and have already arrived in Canada, let's walk you through how the mortgage process will work.

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If you're ready to buy your first home in Canada as a newcomer and have already arrived in Canada, let's walk you through how the mortgage process will work.

Step 1: Understand the eligibility criteria To be eligible for the TD newcomer mortgage solutions, you must have at least 3 months of full-time employment in Canada and you must be

\r\n\r\na Permanent Resident and obtained Permanent Residence status in Canada within the last 5 years, OR 
\r\n\r\na temporary resident with a valid work permit who's relocated to Canada within the last 2 years.
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No Canadian credit history is required, provided you meet all of the other eligibility and credit criteria.
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To be eligible for the TD newcomer mortgage solutions, you must have at least 3 months of full-time employment in Canada and you must be

a Permanent Resident and obtained Permanent Residence status in Canada within the last 5 years, OR 
a temporary resident with a valid work permit who's relocated to Canada within the last 2 years.

No Canadian credit history is required, provided you meet all of the other eligibility and credit criteria.

Step 2: Understand what you can afford A TD Mortgage Specialist can help you determine how much you can borrow for your home based on your income, savings, monthly expenses, and more.

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Before you start house hunting, you'll want to consider getting a TD mortgage pre-approval. This will help show that you're qualified for a mortgage loan, up to a specific amount, so you can shop with more confidence.2
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To get a mortgage pre-approval, start by connecting with a TD Mortgage Specialist.
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A TD Mortgage Specialist can help you determine how much you can borrow for your home based on your income, savings, monthly expenses, and more.

Before you start house hunting, you'll want to consider getting a TD mortgage pre-approval. This will help show that you're qualified for a mortgage loan, up to a specific amount, so you can shop with more confidence.2

To get a mortgage pre-approval, start by connecting with a TD Mortgage Specialist.

Step 3: Search for your home Once you've been pre-approved, it’s time for the fun part. This is where you go on a journey of discovery to find a home that’s just right for you. At this stage you may begin looking for a real estate agent. Before choosing a real estate agent, meet with them to get a sense if their personality and level of service are a good fit for you and try to pick someone with excellent credentials and references. Remember, the agent is usually paid by the seller so it may not cost you anything to use one.

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Once you've been pre-approved, it’s time for the fun part. This is where you go on a journey of discovery to find a home that’s just right for you. At this stage you may begin looking for a real estate agent. Before choosing a real estate agent, meet with them to get a sense if their personality and level of service are a good fit for you and try to pick someone with excellent credentials and references. Remember, the agent is usually paid by the seller so it may not cost you anything to use one.

Step 4: Find your dream home. Make an offer. When you find a home you love, make sure it's within your price range and speak to a real estate lawyer before submitting your offer.

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When you find a home you love, make sure it's within your price range and speak to a real estate lawyer before submitting your offer.

Step 5: Apply for a mortgage Once your purchase offer is accepted, you'll need to start your mortgage application, get approved and close the deal. If you are applying for one of the TD newcomer mortgage solutions, you need to provide the following documents:

\r\n\r\nYour Permanent Resident Card or valid work permit (IMM Form #1442) 
\r\n\r\nSources of verifiable income and full-time employment in Canada such as pay stubs, employment letter and bank statements confirming direct deposit
\r\n\r\nDocuments that show where you are getting your down payment from.  This might include financial statements from your bank in your home country  
\r\n\r\nRecent statements of your savings, investments, loans, credit cards and lines of credit 
\r\n\r\nHousing expenses (e.g. property tax, condo fees, heating costs)
\r\n\r\nThe signed offer to purchase the home
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A TD Mortgage Specialist will let you know what other documents may be required for your situation.

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Once your purchase offer is accepted, you'll need to start your mortgage application, get approved and close the deal. If you are applying for one of the TD newcomer mortgage solutions, you need to provide the following documents:

Your Permanent Resident Card or valid work permit (IMM Form #1442) 
Sources of verifiable income and full-time employment in Canada such as pay stubs, employment letter and bank statements confirming direct deposit
Documents that show where you are getting your down payment from.  This might include financial statements from your bank in your home country  
Recent statements of your savings, investments, loans, credit cards and lines of credit 
Housing expenses (e.g. property tax, condo fees, heating costs)
The signed offer to purchase the home

A TD Mortgage Specialist will let you know what other documents may be required for your situation.

As of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act is in effect. This means the Government of Canada placed some restrictions on the purchase of residential property in Canada by non-Canadians. We recommend you consult with a lawyer/notary for guidance to confirm your eligibility to purchase a home in Canada.

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As of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act is in effect. This means the Government of Canada placed some restrictions on the purchase of residential property in Canada by non-Canadians. We recommend you consult with a lawyer/notary for guidance to confirm your eligibility to purchase a home in Canada.

Frequently asked questions How much down payment do I need? How much down payment you need depends on the purchase price of your home and whether you're getting a conventional mortgage or a default insured mortgage.

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How much down payment you need depends on the purchase price of your home and whether you're getting a conventional mortgage or a default insured mortgage.

Why is a credit score important for a mortgage? A good credit score is typically required to get a mortgage in Canada because it shows your mortgage lender how responsible you are with your spending and manage credit.  

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 At TD, we understand that as a newcomer to Canada, you may still be building up your credit score and be in the early stages of establishing your full-time employment in Canada. But with our mortgage solutions for newcomers, you may still be eligible for a TD Mortgage, even without  Canadian credit history. Connect with a TD Mortgage Specialist to see if you may be eligible for a TD Mortgage.

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A good credit score is typically required to get a mortgage in Canada because it shows your mortgage lender how responsible you are with your spending and manage credit.  

 At TD, we understand that as a newcomer to Canada, you may still be building up your credit score and be in the early stages of establishing your full-time employment in Canada. But with our mortgage solutions for newcomers, you may still be eligible for a TD Mortgage, even without  Canadian credit history. Connect with a TD Mortgage Specialist to see if you may be eligible for a TD Mortgage.

When should I apply for a mortgage pre-approval? You should apply for a mortgage pre-approval after you have arrived in Canada and when you are ready to start home-hunting. Your pre-approval may only be good for a short amount of time so it's important to apply for it right before you start your home search and you have everything else you need to buy. At TD, we'll hold your pre-approved mortgage rate for 120 days2 so you can home-hunt with more confidence.

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You should apply for a mortgage pre-approval after you have arrived in Canada and when you are ready to start home-hunting. Your pre-approval may only be good for a short amount of time so it's important to apply for it right before you start your home search and you have everything else you need to buy. At TD, we'll hold your pre-approved mortgage rate for 120 days2 so you can home-hunt with more confidence.

What's the difference between homeowners' insurance, mortgage default insurance and mortgage protection insurance? Home insurance (or condo insurance if buying a condo) covers the repair or replacement of your home and personal belongings (up to policy limits) against unexpected losses such as theft, fire, etc. Most mortgage lenders will require you to have home/condo insurance to get your mortgage.

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Mortgage default insurance is insurance that protects the mortgage lender for losses if you default on the mortgage. Mortgage default insurance is mandatory for high ratio mortgages and required if you put less than 20% down payment. Standard conventional mortgage programs require a minimum 20% down payment. TD’s newcomer mortgage solution for Permanent Residents requires mortgage default insurance if you have less than 35% down payment.
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Mortgage protection insurance, also known as mortgage creditor insurance, is an optional insurance product that provides mortgage critical illness and life insurance options. For example, if you were to die or be diagnosed with a covered critical illness, this insurance could pay down or pay off your remaining mortgage balance, up to the maximum coverage limit.
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Home insurance (or condo insurance if buying a condo) covers the repair or replacement of your home and personal belongings (up to policy limits) against unexpected losses such as theft, fire, etc. Most mortgage lenders will require you to have home/condo insurance to get your mortgage.

Mortgage default insurance is insurance that protects the mortgage lender for losses if you default on the mortgage. Mortgage default insurance is mandatory for high ratio mortgages and required if you put less than 20% down payment. Standard conventional mortgage programs require a minimum 20% down payment. TD’s newcomer mortgage solution for Permanent Residents requires mortgage default insurance if you have less than 35% down payment.

Mortgage protection insurance, also known as mortgage creditor insurance, is an optional insurance product that provides mortgage critical illness and life insurance options. For example, if you were to die or be diagnosed with a covered critical illness, this insurance could pay down or pay off your remaining mortgage balance, up to the maximum coverage limit.

Common next steps for newcomers to Canada Start investing
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Answer a few questions and we'll call you to match you with a TD Mortgage Specialist.

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1 Conditions apply. You may be eligible for a TD mortgage, even if you have no Canadian credit history, provided you meet all of the other eligibility and credit criteria of TD Canada Trust.

2 Conditions apply.

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2 Conditions apply.

3 Conditions apply. Subject to TD approval. Interest will continue to accrue. 

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3 Conditions apply. Subject to TD approval. Interest will continue to accrue. 

4 Special rates are discounts off of posted rates.

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4 Special rates are discounts off of posted rates.

5 This offer is subject to meeting TD Canada Trust credit granting criteria.

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This offer is only available for applications through TD branches or mobile mortgage specialists. The offer for applications submitted through mortgage brokers may differ.

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This offer can be changed, extended or withdrawn at any time by TD Canada Trust, and cannot be used in conjunction with any other offer or discount for the same product, unless otherwise specified.

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Exclusions:
\r\n This offer does not apply to any of the following: 

\r\n\r\nPurchase transactions \r\nA refinance of an existing TD Mortgage, TD Home Equity FlexLine or TD Home Equity Line of Credit. \r\nAn advance on an existing TD Home Equity FlexLine or TD Home Equity Line of Credit.\r\nA renewal of a TD Mortgage or Term Portion. \r\nSmall business or commercial lending. \r\n\r\n

If a Valuation and / or In House Registration Fee is reimbursed, that amount will be deducted from the cash bonus. 

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® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

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5 This offer is subject to meeting TD Canada Trust credit granting criteria.

This offer is only available for applications through TD branches or mobile mortgage specialists. The offer for applications submitted through mortgage brokers may differ.

This offer can be changed, extended or withdrawn at any time by TD Canada Trust, and cannot be used in conjunction with any other offer or discount for the same product, unless otherwise specified.

Exclusions:
This offer does not apply to any of the following: 

Purchase transactions  A refinance of an existing TD Mortgage, TD Home Equity FlexLine or TD Home Equity Line of Credit.  An advance on an existing TD Home Equity FlexLine or TD Home Equity Line of Credit. A renewal of a TD Mortgage or Term Portion.  Small business or commercial lending. 

If a Valuation and / or In House Registration Fee is reimbursed, that amount will be deducted from the cash bonus. 

® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

Mortgages for Newcomers: A Complete Guide | TD Canada Trust,AI智能索引,全网链接索引,智能导航,网页索引

    Buying your first home as a newcomer? Learn about TD mortgage solutions for newcomers and get insight and advice on the mortgage process.