New to Canada
If you have been in Canada for less than five years as a permanent resident, then you are considered under this program to buy a house with 5% down payment. Just like other applicants, you must have a full-time permanent job for ninety days and completed probation period.
More information on new to Canada
As soon as you come to Canada, you must start building your credit because for your mortgage you need a good credit history with good credit score. You can start establishing your credit by having.
Secured line of credit
you can give your own $500 to a financial institute to issue you a credit card. Use this credit card with in $500 limit (your own money) on monthly basis, pay the full bill each month before the due date. By doing this you will establish your credit.
Internet bill in your name
This is another way to build your credit. Make sure you pay your full bill each month before the due date.
Cell Phone
Buy a cell phone and pay its bill each month before the due date. Again, this will assist you to establish your credit.
Rental lease agreement
When you rent any place to live, make sure you have proper lease agreement with your name on it and keep an up-to-date copy of it with you. This will also help you to use as an alternative credit option when you want to get your mortgage.
Day care payment
If you pay at the daycare for your child, then this can be treated as an alternative option of your credit.
Bank account in Canada
A bank account in your name will be helpful at the time to get a mortgage to buy a home. You will need to provide account history and a letter from the bank about your banking history.