Mortgage For New Immigrants
Now many lenders have special programs for new immigrants. These programs can help new immigrants to be approved easily for mortgage. Mostly, new immigrants without jobs might be approved by paying 30% to 35% down payment, but they still have chance to get mortgage up to 90% if they have had Canadian income from their jobs.
Mortgage For Non Residents or Working Permit
For non residents who live outside of Canada, it’s very difficult and complicated to get a normal mortgage. These kinds of people need special advice by the CBMR team. For non residents who have working permit in Canada, it’s possible to get mortgage from some lenders. The internal policies of Canadian lenders for non residents with working permit are quite different. Some don’t accept any non resident, some might restrictly offer up to 65% ~ 70% mortgage, but few of them still can offer mortgage up to 90%. All of these will be studied case by case.