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Moving To Canada, Is It Possible To Get A Home Mortgage?

rtbc
rtbc   |     |   1 posts since 2016

Hi all,

Me and my family (from India) are moving to Canada in 1-2 Month. I got a job there in Canada and wanted to settle there. Thinking about getting a home mortgage in few months , but i am not sure if i can get a mortgage being a newcomer.

Also, i can manage a good amount as down payment. Lest say may be around 10-15% of the Total Mortgage amount.

Rajwinder




Shorebreak
Shorebreak   |     |   4,079 posts since 2010
With proper documentation purchasing a home in Canada doesn't appear to be a problem for newcomers.

Buying Your first Home in Canada
What Newcomers Need to Know
http://www.cmhc-schl.gc.ca/odpub/pdf/66144.pdf

Comparing Canada and U.S. Housing Finance Systems
http://www.cmhc-schl.gc.ca/en/corp/nero/jufa/jufa_018.cfm

Canada's Only Independent Mortgage Website
http://www.whichmortgage.ca/
jacksonE
jacksonE   |     |   1 posts since 2016
Purchasing a new home and getting a mortgage as a newcomer to Canada is not difficult. Having a higher amount of down payment makes the application much easier. I would suggest contacting a mortgage broker, as they will be able to find a mortgage that suits your financial needs. There are a few popular brokers in Canada; Brevity Capital, Northwood Mortgage, and Sherwood Mortgage Group.

I hope you get the right deal.
Good Luck,
Jackson