At Champion Mortgage Inc, we have been helping Canadians achieve their home ownership and real estate investment goals since 2001.  How much you can borrow is based on several criteria.

New to Canada Borrowing



  1. Equity
  • As little as 5% down payment required up to purchase price of $500,000
  • Closing cost approximately 1.5% of purchase price
  • What is the source of your down payment?
    1. 5% down payment must be from own resources
    2. If putting down more than 5%, the remainder may be gifted from an immediate family member or from a corporate subsidy
  1. Credit
  • Putting a down payment of 5 – 9.99%, International Credit Report (Equifax or Trans-union) demonstrating a strong credit profile OR two alternative sources of credit demonstrating timely payments (no arrears) for the past 12 months. The two alternative sources are:
    1. Rental payment history
    2. One other alternative source (hydro/utilities, telephone, cable, cell phone and auto insurance)
  • Putting down 10% , Letter of reference from a recognized financial institution OR six months of bank statements from primary account
  1. Income
  • How much do you make a year and is it verifiable?
  • 3 Months Minimum Full Time Employment in Canada (borrowers being transferred under a corporate relocation program do not require 3 Months Full Time Employment in Canada)
  1. Property
  • Must be owner-occupied
  1. Assets
  • What is your net-worth? How much in savings and investments do you have in Canada?  What do you own that has value?
  1. Additional Criteria
  • Must have immigrated or relocated to Canada within the last 60 months
  • Must have a valid work permit or obtained landed immigrant status

Funds for down payment must be in Canadian institution for at least 30 days before the closing date.

If you have any questions or would like us to review your individual situation contact us at 1-877-341-1299 or by email at Get pre-approved before you start looking for a home.