With no Canadian credit history, the lender falls back on what it can check: immigration status, job stability here, the size of the down payment. Programs exist, looser on credit and tighter on the down payment.
Documents before comparison
Your immigration status and work permit, the Canadian employment letter and pay stubs, three months of statements for the down payment. If the money came from abroad, proof of the transfer and where it originated. A credit history from your home country helps with some lenders, without replacing one from here.
Income documents
Two years of notices of assessment, recent pay stubs, an employment letter. The lender goes by what your tax records show, not by what lands in your account. Income that shows up nowhere does not count toward a purchase in Nord-du-Québec.
Income period reviewed in Nord-du-Québec
Depending on where the income comes from, the lender takes the current year, a two-year average or a simple employment confirmation. That period sets the amount, not what you are earning this month. Expect it to differ from one lender to the next in Nord-du-Québec.
Supporting records
Notices of assessment, tax returns, financial statements, pay stubs, deposit records. Get them all together before you make an offer. That is what makes a short financing condition workable, since the delay nearly always comes from a third party who has not sent their piece yet.
Lenders that can assess the file
With no Canadian credit history, the lender leans on immigration status, how stable your job is here and the down payment. Programs exist that are looser on credit and tighter on the down payment.
To prepare
What to gather.
Borrower profile
Income records
Credit history
Available funds
Property or project
Lender eligibility
Frequently asked
Can the file be reviewed remotely?+
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Can I buy without Canadian credit history?+
Yes. Newcomer programs exist, looser on credit and tighter on the down payment. Immigration status and job stability here then carry more weight.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
