Non – Resident mortgages in Canada

We are often contacted by clients who live outside of the country and would like to purchase a home in Canada.  We refer to these as non – resident mortgages and our clients typically fit within one of two categories:

*Canadians who are living abroad or are living part time in Canada and are claiming non-resident tax status.  As a result of this tax status they are not paying income tax in Canada and as such are typically not eligible for a traditional mortgage.

*Non- Canadians who would like to purchase a property in Canada.

The good news is that we have options for both types of these residency statuses.

Non- resident mortgage types:

We have had clients use this unique mortgage programs for several unique purposes including:

*Investment in a rental property

*Purchasing a vacation property

*Purchasing a home for children or family while they are attending post secondary schooling in Canada

Qualifying requirements and mortgage terms:

All of the above mortgage purposes have the same rate, qualification, and down payment requirements.  These include:

*Down payment of 35% of your purchase price

*Full disclosure of your foreign income, assets, and credit to ensure a strong fit within the general Canadian lending requirements

*You must be in Canada to sign your final paperwork to take possession of your new property

*We are able to offer our clients best rates and term for their new Canadian non – resident mortgage

We are experts in approving mortgages for clients who are not residents and are purchasing a home in Canada.  We would be happy to help you with your mortgage approval and answer any questions that you have.  Please feel free to connect with us via phone, online contact form, or by applying online.