Newcomer Mortgage and Home Buying Guide for Calgary

Last reviewed: October 2026. Rules, rates and programs change, so confirm the current details with a licensed mortgage professional and a real estate lawyer.

We’re the Berg Estate Team, Calgary REALTORS® with eXp Realty. Buying your first home in a new country comes with extra questions, and we’re happy to walk you through each step. We can also explain everything in Russian, and Val also speaks Ukrainian. Call us at 587-888-2919 or send us a message.

Important: this page is general information, not mortgage, legal or tax advice. We are REALTORS®, not mortgage brokers. For advice on your situation, talk to a licensed mortgage broker or lender, and a real estate lawyer.

Buying a home as a newcomer: the steps at a glance

1. Check that your immigration status allows you to buy.
2. Start building Canadian credit and gather your documents.
3. Plan your down payment and closing costs.
4. Get pre-approved for a mortgage.
5. Search for homes and make an offer with the right conditions.
6. Work with your lawyer and lender to close, then get your keys.

Can you buy a home in Calgary as a newcomer?

Permanent residents can buy a home in Calgary on the same terms as Canadian citizens. No minimum time in Canada is required.

Temporary residents, such as work permit holders, need to check a federal rule first. The Prohibition on the Purchase of Residential Property by Non-Canadians Act stops most people who are not Canadian citizens or permanent residents from buying residential property in and around Canada’s cities, including Calgary. There are exceptions, including:

• work permit holders with at least 183 days left on their work permit or work authorization on the purchase date, who have not bought more than one residential property;
• protected persons, such as refugees;
• people buying together with a spouse or common-law partner who is a Canadian citizen or permanent resident;
• some international students who meet strict conditions, including a purchase price of $500,000 or less.

As of October 2026, the ban is scheduled to end on January 1, 2027. The federal government has said it is considering its options and could extend it. Before you make an offer, ask a real estate lawyer to confirm the rules that apply to you on your purchase date.

Down payment: how much do you need?

Newcomers follow the same minimum down payment rules as everyone else in Canada:

Purchase price	Minimum down payment
$500,000 or less	5% of the purchase price
$500,000 to under $1.5 million	5% of the first $500,000, plus 10% of the portion above $500,000
$1.5 million or more	20% of the purchase price

Example: on a $550,000 home, the minimum is 5% of $500,000 ($25,000) plus 10% of $50,000 ($5,000), for a total of $30,000.

Where the money can come from. Lenders usually accept your own savings (including savings from your home country), proceeds from selling a property, and a gift from a close family member with a signed gift letter. Lenders will want to see where the money came from and how long it has been in your account. If your savings are abroad, move them to a Canadian account early and keep every transfer record. Some newcomer programs don’t allow a borrowed down payment.

Mortgage loan insurance (CMHC)

If your down payment is less than 20%, your mortgage must be insured against default by CMHC or a private insurer such as Sagen. The one-time premium is a percentage of the mortgage and is usually added to the loan. Insured mortgages are only available on homes priced under $1.5 million. CMHC’s standard premiums are:

Down payment	Premium (25-year amortization)	Premium (30-year amortization)
5% to 9.99%	4.00%	4.20%
10% to 14.99%	3.10%	3.30%
15% to 19.99%	2.80%	3.00%

A 30-year amortization on an insured mortgage is available to first-time buyers and buyers of newly built homes. It lowers the monthly payment but increases the total interest you pay. In Alberta there is no provincial sales tax on the insurance premium.

Example: with $30,000 down on a $550,000 home, the mortgage is $520,000. A 4.00% premium is $20,800, so the insured mortgage is about $540,800.

Mortgage options for newcomers

Insured newcomer programs. CMHC Newcomers is for permanent residents and for non-permanent residents who are legally authorized to work in Canada (for example, with a work permit). There’s no minimum period of residency, and the minimum down payment starts at 5%. Private insurers, such as Sagen, have their own newcomer programs. Your lender or mortgage broker applies for the insurance on your behalf.

Bank and lender newcomer programs. Most major Canadian banks, and many credit unions and other lenders, have mortgage programs for newcomers. They often look at how long you’ve been in Canada, your immigration status, your job and your down payment. Terms, rates and document requirements vary from lender to lender, and no program guarantees approval. A licensed mortgage broker can compare several lenders for you.

If you have little or no Canadian credit history. CMHC requires at least one borrower (or guarantor) with a credit score of 600 or more. When Canadian credit history is limited, CMHC may consider:

• an international credit report;
• a reference letter from your bank in your home country;
• other proof that you pay your bills on time, such as 12 months of rent payments plus one other regular payment or regular savings.

A larger down payment can also widen your options with some lenders.

Work permit holders. Lenders look closely at how long your work permit is valid, your job and your income. Under CMHC Newcomers, non-permanent residents can’t use a borrowed down payment. If you plan to buy before you get permanent residency, start talking to a mortgage professional early.

How lenders decide how much you can borrow

Debt ratios. For insured mortgages, your housing costs (mortgage payments, property taxes, heating and half of any condo fees) generally can’t exceed 39% of your gross household income, and your total debt payments can’t exceed 44%. Some insurers count debts you still have in your home country.

The stress test. Federally regulated lenders must qualify you at the higher of your mortgage rate plus 2%, or 5.25%. For example, if your rate is 4.5%, you qualify as if it were 6.5%. Try our mortgage calculator to estimate your payments.

Build your Canadian credit history

• Get your Social Insurance Number (SIN) and open a Canadian bank account soon after you arrive.
• Get a credit card (a secured card is fine to start), use it for small purchases and pay the full balance on time every month.
• Put your phone, internet or utilities in your name and pay every bill on time.
• Keep proof of rent payments, such as bank records or a letter from your landlord.
• Check your credit reports from Equifax and TransUnion and fix any mistakes.

Documents lenders usually ask for

Every lender is different, but have these ready:

• Passport and another piece of government-issued photo ID
• Permanent resident card or Confirmation of Permanent Residence, or your work permit
• Social Insurance Number
• Employment letter showing your position, salary, start date and whether you’ve finished any probation period
• Recent pay stubs, and any T4 slips or Notices of Assessment if you’ve already filed taxes in Canada
• Bank statements showing your down payment and closing costs, usually for the last 90 days, plus records of any transfers from abroad
• A signed gift letter if family is helping with the down payment
• Proof of rent payments, an international credit report or a reference letter from your bank at home, if you have little Canadian credit
• Details of any loans or debts you still have in your home country

Getting pre-approved

• Talk to a licensed mortgage broker or a lender’s mortgage specialist and explain your immigration status and how long you’ve been in Canada.
• Send them your documents. They’ll check your credit, income, debts and down payment.
• Get a pre-approval with a maximum amount and an interest rate held for a set time.
• Use it to set your budget. Remember to keep money aside for closing costs.

A pre-approval is not a final approval. Once you have an accepted offer, the lender (and the mortgage insurer, if your down payment is under 20%) will review the specific property and confirm your documents. That’s why a financing condition in your offer matters.

Closing costs in Calgary and Alberta

No land transfer tax. Alberta has no provincial land transfer tax. Instead, buyers pay registration fees to Alberta Land Titles:

• Transfer of land: $50 plus $5 for every $5,000 (or part of $5,000) of the property’s value.
• Mortgage registration: $50 plus $5 for every $5,000 (or part of $5,000) of the mortgage amount.

Example: on a $550,000 home with a $540,800 insured mortgage, the transfer fee is $50 + (110 × $5) = $600, and the mortgage registration fee is $50 + (109 × $5) = $595, for a total of $1,195.

Other costs to plan for: legal fees and disbursements, a home inspection, an appraisal (if your lender charges for one), title insurance (if used), property tax and condo fee adjustments, home insurance from possession day, moving costs and utility hook-ups. GST applies to newly built homes unless it’s included in the price or rebated. CMHC suggests budgeting about 1.5% to 4% of the purchase price for closing costs.

For the full process, from offer to possession day, see our Calgary Home Buyer’s Guide.

First-time home buyer programs in 2026

Newcomers can often use the same programs as other first-time buyers. One thing to watch: for most of these programs, a home you owned and lived in outside Canada in the last few years can mean you don’t count as a first-time buyer.

• First Home Savings Account (FHSA): for residents of Canada aged 18 or older who are first-time buyers. Contribute up to $8,000 a year, to a $40,000 lifetime limit. Contributions are generally tax-deductible, and qualifying withdrawals to buy a first home are tax-free.
• RRSP Home Buyers’ Plan (HBP): withdraw up to $60,000 from your RRSPs tax-free to buy a first home, and repay it over up to 15 years. You must be a resident of Canada.
• First-time home buyers’ tax credit: claim $10,000 on your tax return, for a federal tax credit of up to $1,500.
• First-Time Home Buyers’ GST rebate (new homes): up to 100% of the GST, to a maximum of $50,000, on a newly built home up to $1 million, phasing out between $1 million and $1.5 million. You must be a Canadian citizen or permanent resident, and the agreement with the builder must be signed on or after March 20, 2025 and before 2031.
• 30-year amortization: first-time buyers can get an insured mortgage with an amortization of up to 30 years.

Alberta does not currently have a province-wide down payment program for first-time buyers. The federal budget is due on November 5, 2026, and it may change some of these programs. Check the official CRA, CMHC and program pages before you rely on any of them.

How we help newcomers

• We explain how buying a home works in Alberta, in plain English or in Russian, and in Ukrainian with Val.
• We help you build a realistic budget, including closing costs.
• We can introduce you to licensed mortgage professionals and real estate lawyers. You choose who to work with.
• We help you compare communities, commutes and schools, and we set up listing alerts for homes that match your criteria.
• We write and negotiate your offer with the right conditions, and stay with you until you get your keys.

Browse our Neighbourhood Guide and current Calgary listings.