I'm not the expert on newcomers to Canada, but I'm fairly certain we have done some research at CMHC.
In terms of timing, it's not right away, upon landing in our country, where they need to access mortgage financing. They will want to access mortgages probably three years or five years from when they come to Canada. By that time it is likely they will have established a Canadian credit history.
From an access perspective--at least I can speak from Canada Mortgage and Housing's perspective--for mortgage insurance, we would treat all Canadians the same. We take a look to see if they have an ability and willingness to pay and manage their debts. Should they not have a Canadian credit bureau history, we are quite okay in looking at credit bureaus from the land they come from. We are also quite flexible--prudently flexible--in terms of looking at other forms of evidence that supports their ability and willingness to repay their debt. There is some flexibility in our underwriting requirements, though I can only speak from a mortgage insurance perspective. But if you're a first-time homebuyer, you're likely to be in the high-ratio world of 80% or more.
Our policy is to try to treat everyone the same, and we try to make sure that different types of evidence of ability to manage your mortgage can be brought forward--not just an employment letter, for example.