I Don’t Have Any Established Credit, How Do I Qualify?

Our New to Canada program is a wonderful program that allows you to qualify for a new home the non-traditional way. Traditionally, a mortgage applicant would need to have two years of history with the Canadian credit bureau showing two trade method of credit. As a new Canadian, you may qualify by providing one or more of the following credit resources:

• A letter from your landlord or your tenant agreement confirming your name, move in date, monthly rent amount, any amenities included and proof of payment history for the past 12 months.
• 12 month history of any two utility bills showing your ability to make payments.
• 12 months history of bank statements showing your ability to make rent and utility bill payments.
• A letter of reference from your financial institution in the country of origin confirming a minimum 6 months satisfactory banking relationship.
• 6 months of verifiable bank statements from a recognized Canadian financial institution or from a financial institution in the country of origin, showing your ability to pay down debts.
• 6 months of verifiable credit card statements from a recognized Canadian financial institution or from a financial institution in the country of origin showing your ability to pay down debts.
• A Canadian or international credit bureau showing your credit history and your ability to make payments on time.

The purpose of credit statements is to show your ability to pay your bills on time, therefore forming an alternative solution to helping you get into the home of your dreams.