The New to Canada Mortgage program is for mortgage applicants who has immigrated or relocated to Canada in the last 5 years. They must meet the criteria of a qualified home buyer, would be eligible to purchase a property with as little as a 5% down payment. They would be eligible for the same discounted mortgage rates as any other borrower.
This program is available to permanent and non-permanent residents. A permanent resident is someone who has been given permanent resident status in Canada but is not a Canadian citizen. A non-permanent resident is someone legally authorized to work in Canada and has been granted a work permit.
There are minimum credit requirements and the insurers may consider alternative method to establish the borrowers credit worthiness in the absence of sufficient credit history from a Canadian credit reporting agency.
You will have to be a permanent resident, employed for at least 3 months and not be on probation and to be eligible for a new to Canada mortgage.