Protected Person can buy house with mortgage?

[Captain911]

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

Mortgage was about 5% downpayment?

 

[Zai24]

Its strange. We tried alot as protected person but were always told to get permanent sin. As soon Pr confirmation came we change sin number and got approved.

 

[Jakiewuyi]

Mortgage was about 5% downpayment?

Yes, my down payment was 5%.

 

[zak86]

Its strange. We tried alot as protected person but were always told to get permanent sin. As soon Pr confirmation came we change sin number and got approved.

agree I paid 5% deposit and at the last minute RBC turned it down and was like You have no status until pr and refused to give the loan now in limbo and it all happened on the closing day after 2 months it is a headache to get a mortgage even after having 20% down I am all stuck. I gave notice to the landlord and am now unable to leave the place nor able to get the one I paid for still struggling with mortgage with Lender B need prayers either a private lender is an option but their rates are way too high

 

[steaky]

agree I paid 5% deposit and at the last minute RBC turned it down and was like You have no status until pr and refused to give the loan now in limbo and it all happened on the closing day after 2 months it is a headache to get a mortgage even after having 20% down I am all stuck. I gave notice to the landlord and am now unable to leave the place nor able to get the one I paid for still struggling with mortgage with Lender B need prayers either a private lender is an option but their rates are way too high

How about sell as an assignment?

 

[zak86]

How about sell as an assignment?

can't as already took 15 day extension and have to complete transaction either my funds will be forfeited

 

[ashokleyland]

What

can't as already took 15 day extension and have to complete transaction either my funds will be forfeited

What does it mean took 15 day extensions?

 

[zak86]

It sounds like you're in a bit of a tough spot with your home purchase. Taking a 15-day extension likely means you've requested extra time to complete the transaction, but it seems like there might be some restrictions if you're a protected person

there isn't it is bank to bank I was turned down by the bank but got it from the Credit union and now all good to go.. but the best is if you wait for pr and then go so no bank can turn you down plus you will get good rates as well.. and be very careful when choosing realtor and mortgage broker they can put you in between and get you stuck and ran away..

 

[iftikhar0022]

1:I have a question for you, can a person buy a mortgage or add his name to another person's mortgage before the PR comes?

2: Is it possible that my wife can buy a property here with her sister and add my wife name to it and when i comes here, after that she want to remove her name from there and give a new property together with my me, is this possible?

 

[canuck78]

1:I have a question for you, can a person buy a mortgage or add his name to another person's mortgage before the PR comes?

2: Is it possible that my wife can buy a property here with her sister and add my wife name to it and when i comes here, after that she want to remove her name from there and give a new property together with my me, is this possible?

Depends why and whether they qualify. Adding people and trying to take people off of mortgages comes with a lot of potential issues. Many are now stuck on mortgages they can’t get off of. If you are trying to circumvent purchasing requirements also not a good idea. Would suggest speaking to a reputable mortgage broker.