RFA’s ‘New to Canada’ program offers a supportive mortgage option for those who have recently arrived in Canada. This program is ideal if you have been in Canada for less than five years and have a permanent resident, landed immigrant status, or a valid work permit. What makes it particularly accessible is that it only requires a valid work permit (no permanent residency needed) and is flexible with thin credit histories and overseas down payments. To qualify, your income must be fully verifiable, and all work permits need to be valid for at least one year from the closing date. This program isn’t applicable to diplomats or foreign appointed individuals. It’s a great option if you’re new to Canada and seeking home ownership.

Key details

Max Loan to ValueMax Loan to Value (LTV) is the largest loan you can get based on your home's value. For a $500k house, 80% LTV means you can borrow $400k or pay $100k down. 80% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help. 500 minimum
Max Amortization 35 years
Mortgage Amount $ 100K - $ 4M

Rates and fees

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Disclaimer: This rate table represents the best rates available from this lender. Rates and fees may depend on several factors, such as your Loan to Value, credit history, income, property use, property location, etc. For a precise quote, fill out the form at the bottom of the page for a no-obligation call.

More information

Purchase Refinance Equity Takeout Debt Consolidation Private Lender Payout Tax Arrears Payout
Property Types
Detached Semi-detached Condo Townhouse Duplex Triplex Fourplex
New to Canada Self-Employed Income Commission Income
Foreign Down Payment Gifted Down Payment Foreign Income Self Employed < 2 Years Quick Funding

This section lists what the lender either does accept or they may consider on a case-by-case basis depending on the rest of the application. If it’s case-by-case, we try and include a note in the policy details to help give more specific information. But keep in mind alternative (private and ‘b’) mortgages are situation dependent and some of the above items can’t be combined. If you’re unsure or have a question, please fill out the contact form at the bottom of the page or speak with your mortgage professional.

About the Lender

Founded in 1996, RFA (Realty Financial Advisors) is a Canadian-owned real estate investment firm with substantial involvement in various real estate portfolios. The company entered the residential lending market in 2018 and expanded its presence in 2019 with the acquisition of Street Capital Bank. RFA Bank of Canada, a federally regulated Schedule I Bank, is a key player in RFA's operations, focusing on balance-sheet-based Alternative lending. As part of its strategic vision, RFA aims to offer more than just competitive rates, striving for recognition through a solutions-oriented product suite and excellent client experience in the alternative lending segment.

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The content on this website is for informational purposes only and does not constitute professional advice. Policies, rates, and fees are subject to change without notice at the lender’s discretion. There may be additional costs not mentioned on this page. Cost of financing is depends on the situation, and it is the responsibility of your mortgage professional to disclose that information at the time of application. In the event of a discrepancy between this page and the lender, the lender is assumed to be correct. Before making any financial decisions, please consult with a qualified mortgage professional. By using this website, you accept the above statement and our terms and conditions.