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buy house in bc on work permit

Discussion in 'Housing' started by Ajit1975, Jun 10, 2018.

  1. Hi, I would like to know can I buy house just after 3 months on work permit down payment 50%,
     
  2. Your WP has an end date, maybe in 2 or 3 or 4 years from the time of your arriving in the country. You will be requesting for a mortgage which will be payable in 10 or 15 or 15 or 25 yrs time.
    I doubt if your mortgage will be approved on WP. You also would need time to build credit history in the country
    I had an issue while i was trying to finance my car. I was asking for mortgage of 5 yrs, my WP was expiring in 3 yrs time, i was asked by creditors how will I pay in the 4th n 5th year when my WP expires in 3 yrs..
     
  3. On top of these, you might have to pay foreign buyers tax.
     
  4. Does that apply to people on WP living and working in Canada ? Is it a BC specific rule ?
     
  5. See the link above if you are eligible for exemption. Besides you are foreign national because you neither Canadian citizen or Pr.
     
  6. Ajit1975 likes this.
  7. Thanks 2 all ur advise.
     
  8. haha.. i saw you added another post only to delete it yesterday ;) you don't wanna give up :D
     
  9. Haha... yesterday I saw you with just the green smiling face and then you deleted the smiley and replaced with the sentences containing the globe and mail link. You too don't wanna give up :rolleyes:
     

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