Welcome to Canada, we have many programs to allow you to purchase a home without credit established in Canada.
Qualified homebuyers who have immigrated or relocated to Canada within the last 5 years are eligible to purchase a property with as little as 5% down (under a million dollars).
There may be other fees related to your immigration status such as the Foreign Buyer tax which applies if you are not yet a permanent resident. This tax is 25% of the home but is refunded once the PR card is issued. Also, depending on the amount of down payment, there are insurance premiums that are added to the mortgage and will be disclosed on your approval.
These premiums are the same for a Canadian, so this is a policy for all lending in Canada over 80% of the house value.
Under this NTC program standard income verification is required. A minimum of 3 months of full-time employment in Canada unless you are transferred under a relocation program.
Credit in most countries is not available, but we can support your credit with 6 months of bank statements or a utility, telephone, cable, auto insurance or cell phone bill.
Non-Permanent residents may get a maximum of 90% or if you buy a property that is more than 2 units.
Let us review your options to allow you to enjoy Home Ownership in your new Country of Canada!
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