Buying a house in Montreal - What is the reality in terms of mortgage?

[novaerametal]

All right, I'm from Brazil, I`m 35, and I'm planning on studying business in Montreal.

If I wanted to buy a house and have 130k to invest as down payment, what mortgage rates will I encounter?

Being that I have no credit history in Canada or any other country and no way to prove income, with a down payment of 130-140k, would I be able to buy a house, of, say, 300-400k ? Would I be able to have a mortgage of about 1000 CAD monthly (30-40 years mortgage)? If so, what mortgage rates would I be offered?

Thank you all for your help.

 

[zardoz]

All right, I'm from Brazil, I`m 35, and I'm planning on studying business in Montreal.

If I wanted to buy a house and have 130k to invest as down payment, what mortgage rates will I encounter?

Being that I have no credit history in Canada or any other country and no way to prove income, with a down payment of 130-140k, would I be able to buy a house, of, say, 300-400k ? Would I be able to have a mortgage of about 1000 CAD monthly (30-40 years mortgage)? If so, what mortgage rates would I be offered?

Thank you all for your help.

You might find this helpful.
http://www.cmhc-schl.gc.ca/en/co/buho/buho_005.cfm
http://www.rbcroyalbank.com/mortgages/mortgage_calculators.html
https://www.bmo.com/main/personal/mortgages/calculators

Assume that a maximum mortgage period will be 25 years, not 30 - 40.

 

[ALRIVAS]

1)35% downpayment of whatever you want to buy.
2)Proof of income
3)Interest rate average 3% if you hire a mortgage broker that is free is less than that.
I'm a realtor in Toronto but interest rate is Canada wide.
For more info go to alrivas,com

 

[novaerametal]

35% is okay. So, if I had 140k I would be able to buy a house up to 400k

But what about proof of income? I would just have arrived in Canada as a Student. Would I be able to buy the house without proof of income?

 

[ALRIVAS]

Hi novaerametal your monthly payment is 1,237.82 based on 3% rate you have to show the bank you can make that amount of money and more every month,I know you said you are student but you have to get money to live in Canada normally that money comes from outside Canada.
Please email me al@alrivas.com.