Buy a property in Canada by Mortgage

[TMSB]

Hi all,

Is it possible to take a mortgage from any bank to buy a house in Canada based on a job outside Canada?

Regards

 

[steaky]

no problem

 

[TMSB]

Thanks for the reply.

 

[fromdubai]

Hi all,

Is it possible to take a mortgage from any bank to buy a house in Canada based on a job outside Canada?

Regards

As far as you have PR / Citizenship. However downpayment depends on various factors.

 

[steaky]

As far as you have PR / Citizenship. However downpayment depends various factors.

You don't have to be a PR/Citizen in order to own properties in Canada. Canada allows foreign ownership of Canadian land property.

 

[fromdubai]

You don't have to be a PR/Citizen in order to own properties in Canada. Canada allows foreign ownership of Canadian land property.

I was referring to 'Buy a property in Canada by Mortgage'

 

[steaky]

I was referring to 'Buy a property in Canada by Mortgage'

It's the same. As long as Canadian financial institutions accepts. ;D

 

[fromdubai]

It's the same. As long as Canadian financial institutions accepts. ;D

Without PR and no source of income within Canada - If there is any bank please advice.
There is no financial institution in Canada that I know yet

 

[steaky]

Without PR and no source of income within Canada - If there is any bank please advice.
There is no financial institution in Canada that I know yet

Check out HSBC, CIBC and Scotia Bank or your mortgage broker

 

[fromdubai]

Check out HSBC, CIBC and Scotia Bank or your mortgage broker

All says no
They only give for PR/citizen/Source of income generated within Canada

 

[explorer101]

Hi all,
Is it possible to take a mortgage from any bank to buy a house in Canada based on a job outside Canada?
Regards

Job can be anywhere in the world and if that person files tax returns in Canada and claims the world income in those tax returns then Canadian FI's would approve mtg to buy house in Canada, otherwise strictly NO NO.

Apart from the world income declaration one would also require credit rating of Canada or USA.

 

[steaky]

All says no
They only give for PR/citizen/Source of income generated within Canada

Once you bought a home in Canada, you still get a reverse mortgage or line of credit.

 

[fromdubai]

Once you bought a home in Canada, you still get a reverse mortgage or line of credit.

Its nice to hear your experience

 

[jaime]

All says no
They only give for PR/citizen/Source of income generated within Canada

I'm a mortgage broker in the GTA, and I say YES!

BTW: Not advertising here, just answering a question.

Thanks. Have a great day!