How to Buy Your First Home in Canada as a Nigerian Immigrant While Still Supporting Family Back Home.

How to Buy Your First Home in Canada as a Nigerian Immigrant While Still Supporting Family Back Home.

“This rent is draining me. I want to own something of my own…”

When Seun moved to Canada in 2023, he was full of excitement and rightly so. A new life, new country, and finally, a stable job after months of job hunting..

 But the joy didn’t last forever. His rent kept rising, and with each passing month, he felt the weight of it.

“I’m paying over $2,000 every month just to live in someone else’s property. What about mine?”

That was his wake-up call. Seun realized he didn’t want to just get by in Canada. he wanted to build. And for him, that meant owning a home.

If you’re in the same boat, you're not alone. In fact, Nigerian immigrants are among the fastest-growing group of first-time homebuyers in Canada, especially in provinces like Ontario, Alberta, and Manitoba.[House Marketing in Canada]

But homeownership isn’t a leap—it’s a calculated climb. And this guide is your first step.

Why Owning a Home in Canada Matters More Than Ever

You’ve heard it before—real estate is one of the safest ways to build wealth. But for immigrants like us, it’s about more than just money.

  • Security: No more worrying about landlords or surprise rent hikes.
  • Freedom: Paint the walls. Get a pet. Do you.
  • Legacy: Because owning a home isn’t just about now—it’s about what you pass on.

Still, let’s be real: Homes in Canada aren’t cheap. The average price was $679,331 as of March. Even cities like Regina and Winnipeg are seeing steady growth. (Source: CHM).

But you don’t need a mansion. You need a plan.

✅ Step 1: Understand What You Can Afford

Before you dream of a condo in Mississauga or a townhouse in Brampton, you need to assess your finances.

Use a free tool like CMHC’s Affordability Calculator to calculate how much you can realistically borrow.

Don’t forget these hidden costs:

  • Property taxes
  • Land transfer taxes
  • Closing costs (~1.5% to 4% of purchase price)
  • Home inspection fees
  • Maintenance and utilities

Tip: Try to keep housing costs under 32% of your gross income.

 ✅ Step 2: Build a Strong Down Payment (Even While Supporting Family Back Home)

In Canada, the down payment rules are:

  • 5% for homes under $500,000
  • 10% for the portion between $500,000 and $1 million

Seun sent money home to his family monthly, and he wasn’t about to stop. So he used Sendwithpaper to keep up with both goals.

With the app, he could:

  • Set automatic savings targets in CAD
  • Send money to Nigeria without paying ridiculous FX fees
  • Track his savings and transfers—all in one place

🌍 Immigrants in Canada send over $1 billion in remittances to Nigeria every year. With the right tools, you don’t have to choose between family and your future.

✅ Step 3: Build Your Canadian Credit Profile

Even if you had a strong financial track record in Nigeria, you’re starting from scratch in Canada.

Here's how to build credit fast:

  • Apply for a secured credit card
  • Set up automatic payments for your bills
  • Keep credit use under 30% of your limit
  • Avoid applying for too many cards at once

With time, your score can grow from the low 600s to over 750—putting you in a great position for mortgage approval.

🧾 Learn more from Equifax Canada’s Credit Education Centre

✅   Step 4: Get Pre-Approved Before House Hunting

Once your down payment and credit are solid, get pre-approved by a lender or broker.

This will:

  • Give you a realistic price range
  • Make your offer stronger when bidding
  • Speed up the closing process

You’ll need documents like:

  • Pay stubs or an employment letter
  • Proof of immigration status
  • Credit report
  • Bank statements
  • SIN number

Use a mortgage comparison tool to explore your options.

You can also use a mortgage comparison tool like Ratehub to explore options.

✅ Step 5: Use the Right Tools—You’re Balancing Two Lives

Living in Canada is already a juggle: rent, bills, savings, and still supporting family back home.

That’s why Seun used Sendwithpaper.

With it, you can:

  • Send money to Nigeria without FX stress
  • Track your spending and savings
  • Set a goal for your down payment
  • Stay organized in both CAD and NGN

💡 Don’t wait until your rent goes up again. Start now.

Your Homeownership Journey Starts Now

Buying your first home in Canada as a Nigerian immigrant isn’t a dream—it’s a real goal, and it's achievable.

Like Seun, you don’t have to wait 10 years. You just need:

 ✅ A smart savings strategy

✅ Good credit habits

✅ The right tools to stay consistent

📲 Download Sendwithpaper today and begin your journey to owning a home with the only finance app built for your hustle.

Because Canada isn’t just where you live.

It’s where you build. 🏡

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