Newcomers to Canada may have trouble qualifying for a mortgage if they don't have a credit history. CIBC offers the following mortgage programs to individuals that are new to Canada, including temporary foreign workers:
CIBC Newcomer to Canada Program Mortgage. If you have a limited credit history in Canada and have the necessary Canadian income to afford mortgage payments, this program is ideal for you.
CIBC Newcomer to Canada Plus Program Mortgage. This program is designed for individuals who are new to Canada or Canadian citizens who were living abroad prior, but are now living in Canada permanently. People may qualify with limited or no credit history and if they are working to re-establish a career in Canada.
CIBC Foreign Worker Program Mortgage. This program is for people on a valid work permit. You may qualify if you do not have a Canadian credit history.
You can reach out to CIBC about these programs before or while you are shopping for homes.