Buying a property

[pdd1872]

All,

I will be relocating to Canada in December'13 on WP along with my family. I wish to understand whether WP holders are allowed to buy property in Canada? What is the eligibility to avail a Mortgage Loan? Do banks offer them the same privileges as a Permanent resident? ie. low interest rates, less down payment for eg. 5%, etc?

 

[scylla]

Read through this thread:

http://www.canadavisa.com/canada-immigration-discussion-board/buying-house-on-workpermit-with-5-downpayment-t115752.0.html

 

[mortgageprofessional]

If you are:

nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors

nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee

qualified with the following:

• Study Permit

• Work Permit

• Temporary Resident Visa



You may qualify with:

**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required

Up to 65% Loan to Value-Up to $1 million.........preferred rates!

If income and employment can be verified:

Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units

Good Luck

 

[maina]

If you are:

nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors

nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee

qualified with the following:

• Study Permit

• Work Permit

• Temporary Resident Visa



You may qualify with:

**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required

Up to 65% Loan to Value-Up to $1 million.........preferred rates!

If income and employment can be verified:

Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units

Good Luck

well said

 

[preeti22]

If you are:

nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors

nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee

qualified with the following:

• Study Permit

• Work Permit

• Temporary Resident Visa



You may qualify with:

**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required

Up to 65% Loan to Value-Up to $1 million.........preferred rates!

If income and employment can be verified:

Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units

Good Luck

thanks for the post.

 

[KRP]

http://homeownership.ca/category/new-to-canada

 

[Arhsub]

The answer is yes. WP holders can buy property in Canada and the banks provide them the same privilege. Don't worry about it. Otherhand you can consult with a bank.