New to Canada Mortgages in Alberta (PR and Work Permit)
Clear mortgage strategy for newcomers buying in Calgary and across Alberta.
The short answer
Yes, newcomers can get a mortgage in Alberta, often without Canadian credit history. Permanent residents and work permit holders can use newcomer programs from several lenders with at least 5% down on the first $500,000, verified Canadian employment income and a documented down payment (usually 90 days of statements). Work permit holders may need a larger down payment. Every buyer must still pass the stress test.
Lacroix Mortgage Group is a Calgary mortgage team licensed with and powered by Mortgage Connection Inc., a mortgage brokerage licensed in Alberta by the Real Estate Council of Alberta (RECA), and part of the DLCG network. Our brokers are individually licensed. See licence details.
Who This Is For
Permanent Residents
Recently landed PRs buying their first home in Canada.
Work Permit Holders
Employed in Canada on a valid work permit and ready to buy.
Professionals Relocating
Professionals moving to Calgary for work.
Strong Savings, Little Credit
Solid finances abroad but limited Canadian credit history.
What Newcomers Need to Know
Accepted down payment sources
Funds in your Canadian bank account, international wire transfers with a 90 day history, gifts from immediate family, and proceeds from selling property in your home country. Every source needs a clear paper trail.
PR vs work permit
Permanent residents usually have more lender programs and lower down payment options. Work permit holders may need a larger down payment and at least a year left on the permit. Both can qualify.
The process
- Consultation to review your situation and documents
- Pre-approval to set your budget and hold a rate
- Home search with your REALTOR®
- Final approval once your offer is accepted
- Closing day: your lawyer handles the transfer and you get the keys
Estimate your numbers with our affordability calculator, stress test calculator and closing cost calculator.
How We Help Newcomers
Lender Matching
We match you with lenders that run newcomer programs.
Down Payment Structuring
International transfers, gifts and savings organized to meet lender rules.
Document Organization
A clear checklist so there's less back and forth and fewer delays.
Stress Tested Affordability
What you can comfortably afford after the stress test.
Start Your Pre-Approval
A Calgary mortgage broker will be in touch within 24 hours. No obligation.
New to Canada Resource Hub
Down Payment Rules for Newcomers
Minimum down payment and which sources are accepted when you're new to Canada.
Read Article →Mortgage Document Checklist
The documents newcomers need for a mortgage application in Alberta.
Read Article →Building Canadian Credit
Practical steps to build a Canadian credit profile quickly.
Read Article →Mortgages on a Work Permit
Lender requirements when you apply on a work permit.
Read Article →Stress Test for Newcomers
How the stress test affects newcomer buyers in Alberta.
Read Article →Complete Calgary Newcomer Guide
Step by step guide to buying your first home in Calgary.
Read Article →Common Newcomer Mortgage Questions
Can I get a mortgage in Canada as a newcomer?
Yes. Many lenders run newcomer programs for permanent residents and work permit holders. Approval depends on your income, documented down payment and residency status.
How much down payment do I need as a newcomer in Alberta?
The minimum is 5% on the first $500,000 and 10% on the portion above that, up to $1,500,000. Some newcomer programs ask for more depending on your status and credit history.
Do I need Canadian credit to qualify for a mortgage?
Not always. Some lenders approve newcomers with no Canadian credit when income, down payment and documents are strong. Others accept an international credit report instead.
What documents do newcomers need for a Canadian mortgage?
Usually government ID, your PR card or work permit, a job letter, recent pay stubs and 90 days of bank statements showing your down payment. Requirements vary by lender.
Newcomer document checklist → How does the mortgage stress test affect newcomers?
You must qualify at the higher of 5.25% or your contract rate plus 2%. It lowers your maximum mortgage and applies to all borrowers, newcomers included.
Stress test calculator → Can I buy a house in Canada on a work permit?
Yes. Some lenders approve work permit holders with stable income and a solid down payment. Many prefer at least a year left on the permit.
Work permit mortgages → How long do I need to be in Canada to get a mortgage?
There is no fixed minimum. Some lenders approve newcomers who just arrived if income and documents meet their rules.
What credit score do I need for a mortgage in Canada?
Most lenders prefer 600 or higher, but some newcomer programs accept applicants with no Canadian credit at all.
Build Canadian credit faster → Can I use foreign income to qualify for a Canadian mortgage?
Some lenders consider it, but most qualify you on Canadian employment income. Foreign assets can still strengthen your down payment.
Start With a Clear Plan
Just arrived or here a few years? A quick call shows you your options.
Or call (403) 648-1541