Protected Person can buy house with mortgage?

[Griffindor]

If I am not mistaken, protected persons can get the same loans and mortgages as Canadian citizens. Better to ask a Mortgage Broker, and they will tell you all the details. You will indeed not find 100% reliable information here. Maybe it depends on the company because not all companies have the same rules, which surprised me. When I wanted to take out a mortgage, I consulted with different banks and companies, and each has its own rules and offers. So be careful and choose the best company. For example, I was looking for an excellent offer to take out a mortgage with a low monthly rate, and Mortgage Advice York proposed the most suitable one. So don't limit yourself to just one company or one bank.

 

[canuck78]

If I am not mistaken, protected persons can get the same loans and mortgages as Canadian citizens. Better to ask a Mortgage Broker, and they will tell you all the details. You will indeed not find 100% reliable information here. Maybe it depends on the company because not all companies have the same rules, which surprised me. When I wanted to take out a mortgage, I consulted with different banks and companies, and each has its own rules and offers. So be careful and choose the best company. For example, I was looking for an excellent offer to take out a mortgage with a low monthly rate, and Mortgage Advice York proposed the most suitable one. So don't limit yourself to just one company or one bank.

Until you get PR you still don’t have longterm status in Canada so getting a mortgage will be more difficult just like anyone else with a limited time as a temporary resident in Canada.

 

[Copingwithlife]

If I am not mistaken, protected persons can get the same loans and mortgages as Canadian citizens. Better to ask a Mortgage Broker, and they will tell you all the details. You will indeed not find 100% reliable information here. Maybe it depends on the company because not all companies have the same rules, which surprised me. When I wanted to take out a mortgage, I consulted with different banks and companies, and each has its own rules and offers. So be careful and choose the best company. For example, I was looking for an excellent offer to take out a mortgage with a low monthly rate, and Mortgage Advice York proposed the most suitable one. So don't limit yourself to just one company or one bank.

But that link you posted , is if you want a mortgage in York, like the York in the UK aka United Kingdom. You know , across the pond ? Could be other countries have different rules when one is applying for a mortgage.

 

[Simba112]

If I am not mistaken, protected persons can get the same loans and mortgages as Canadian citizens. Better to ask a Mortgage Broker, and they will tell you all the details. You will indeed not find 100% reliable information here. Maybe it depends on the company because not all companies have the same rules, which surprised me. When I wanted to take out a mortgage, I consulted with different banks and companies, and each has its own rules and offers. So be careful and choose the best company. For example, I was looking for an excellent offer to take out a mortgage with a low monthly rate, and Mortgage Advice York proposed the most suitable one. So don't limit yourself to just one company or one bank.

and the link is in the UK. No one said protected persona can not get same loans and mortgage as Canadians, but risk assessment will be different based on the status, and you'll likely be asked to put more deposit than if you could wait until you become a PR

 

[Jakiewuyi]

did your Realtor mentioned any reasons for that? and which province are you?

A protecte

i confirmed with my friend and visit the realtor only thing is you have to pay high down however no additional tax as you are a protected person.

it’s good to speak to more than one realtor my down payment WAS 5%.

 

[Norijal]

A protecte



it’s good to speak to more than one realtor my down payment WAS 5%.

Down payment 5% …?

when? Which year?

which province?

 

[Jakiewuyi]

Down payment 5% …?

when? Which year?

which province?
[/QUOTE

Down payment was $25k which if 5% of $500k.

August 2021.

Montreal.

 

[Norijal]

Refer any realtor or project to me so I can buy a house there.

 

[tydeninioluwa]

she is very experienced. She says that you can get Nox Vidmate VLC mortgage but not with %5 down payment. They likely ask %20 or %30 down payment.

 

[MONABKA]

A protecte



it’s good to speak to more than one realtor my down payment WAS 5%.

Your down payment was 5% while you were a protected refugee? Could you please share contact information of the realtor?

 

[Jakiewuyi]

Your down payment was 5% while you were a protected refugee? Could you please share contact information of the realtor?

@MONABKA, Which province do you live? I live in Quebec and my realtor also lives and licensed in Quebec. The most important thing to do is to speak to both banks and brokers. Both of them will provide the necessary information you need and you’ll be able to pick a suitable option. There’s no rule that says a protected person can’t buy a house in Canada. As a matter of fact, a protected person can get same loans and grants as a Canadian citizen or permanent resident WITHOUT ANY ADDITIONAL TAX BECAUSE YOU ARE NOT A LANDED IMMIGRANT. Please check www.canada.ca under mortgage section for more information.

 

[MONABKA]

@MONABKA, Which province do you live? I live in Quebec and my realtor also lives and licensed in Quebec. The most important thing to do is to speak to both banks and brokers. Both of them will provide the necessary information you need and you’ll be able to pick a suitable option. There’s no rule that says a protected person can’t buy a house in Canada. As a matter of fact, a protected person can get same loans and grants as a Canadian citizen or permanent resident WITHOUT ANY ADDITIONAL TAX BECAUSE YOU ARE NOT A LANDED IMMIGRANT. Please check www.canada.ca under mortgage section for more information.

Can you please send me where exactly "A protected person can get same loans and grants as a Canadian citizen or permanent resident WITHOUT ANY ADDITIONAL TAX BECAUSE YOU ARE NOT A LANDED IMMIGRANT " is written in the website?

 

[Jakiewuyi]

I totally disagree with your analogy. I was a protected person when I applied for mortgage. I got offers from TD Bank, CIBC and National bank with my 5% deposit payment. Banks in Canada does not discriminate against any one. You are eligible for loans if you are a protected person, permanent resident or Canadian citizen. Most importantly, you must be credit worthy and proof to the bank/lender that you are capable of your repayment. Please do your research well.

 

[zak86]

I totally disagree with your analogy. I was a protected person when I applied for mortgage. I got offers from TD Bank, CIBC and National bank with my 5% deposit payment. Banks in Canada does not discriminate against any one. You are eligible for loans if you are a protected person, permanent resident or Canadian citizen. Most importantly, you must be credit worthy and proof to the bank/lender that you are capable of your repayment. Please do your research well.

did you get the mortgage with a Notice of decision? was it from bank or lender B?

 

[Jakiewuyi]

did you get the mortgage with a Notice of decision? was it from bank or lender B?

I got the mortgage from TD Bank with my positive Notice of Decision.