New Canadians: A new source of mortgage business for you

A CMHC study called the degree of home ownership among new Canadians “impressive,” as ownership increased, from less than 20% during their first six months in Canada, to more than 50% after four years. CMHC also observed that home owners who were new to Canada experienced the lowest degree of homeownership loss.

Canada depends on newcomers as a major contributor to drive economic growth. Foreign-born residents now account for about 20% of Canada’s overall population and smaller communities, such as Hamilton, Ottawa-Gatineau, Calgary and Edmonton are home to almost 30% of new immigrants.   

How else can you take advantage?

• Advertise with national and local organizations working to support new Canadians (i.e. Canadian Immigration Council)

• Connect with Real estate agents who work with new immigrants

• Translate your marketing materials into appropriate languages

• Target ethnic media and ensure your ads incorporate visual images that represent your audience

• Hire staff who are bilingual and are sensitive to cultural differences

• Work with a lender who can support and service a diverse group of Canadians

Canada is a land of opportunity and First National can help you take advantage:

• Customer Service in 19 different languages!

• Access to homeownership with as little as 5% down payment

• Competitive interest rates

• No minimum period of residency required

            DID YOU KNOW?  
       
        In 2010, immigration will increase approximately 3.2%, which will fuel demand for housing.*
*Housing Market Outlook - Canada Edition - Date Released: Fourth Quarter 2009  

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