Moving from India to British Columbia is a big milestone filled with new opportunities — and for many families, buying a home is one of the first major goals. But the Canadian mortgage process is very different from what we’re used to back home. Words like credit score, Notice Of Assessment (NOA), down payment rules, and stress test can feel overwhelming for newcomers. That’s why understanding the basics early on can help you plan better and become a homeowner sooner.
For Indian newcomers, the biggest challenges are usually limited Canadian credit history, understanding down payment requirements, and navigating employment rules here. In BC, you generally need 5% to 20% down, depending on the home price. Lenders look at your last two years’ income, your credit score, and your monthly debts. Even if you’ve recently arrived in Canada, many lenders have newcomer programs that consider foreign income, overseas work history, gifted down payments from family, or alternative ways to verify your finances. The key is knowing which lender fits your situation — and that’s where the right mortgage guidance helps.
Working with a mortgage broker who understands the Indian community makes the journey much easier. From explaining the process in simple terms to helping you prepare documents, compare lenders, and secure the right mortgage, personalized support goes a long way for newcomer families. If you’re a recent arrival from India and looking to buy your first home in BC, you can learn more or start your pre-approval with Neeraj Kumar Mortgages – where you would get friendly & trustworthy guidance for your Canadian homeownership dreams.