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BrokerYEG | Alberta Mortgage Services
1. FAQ'S 2. Mortgage Rates 3. Mortgage Process 4. Costs to buy a home 5. About BrokerYEG 6. Apply
New to Canada
This program is available to permanent or temporary residents who can provide confirmation that they have applied for permanent residency. To qualify, applicants must:
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Have immigrated or landed in Canada within the last five years (possession of the home must occur before this five-year mark).
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Be employed full-time for at least 3 months.
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Meet standard lender and mortgage insurer guidelines.
I haven’t established much credit—can I still apply?
Yes! If you have little or no credit history, we can use "alternate credit" to verify your payment history. This can include:
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A letter from your insurance company, Telus, Shaw, EPCOR, or your landlord
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Bank statements showing regular payments
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In some cases, a credit report from your country of origin (most commonly available from the U.S.)
Credit Requirements After the 5-Year Mark
In Canada, after your five-year mark, the recommended credit profile for mortgage approval typically includes:
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Two active credit accounts
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At least two years of credit history
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A minimum credit limit of $2,500 per account