Mortgage Information That Every Non-Resident Needs to Know

If you’re a Non Resident we make this big move easy, and simple.

This leap to Canada is all about the great location and guidelines, and let’s face it Investment Ownership in the greatest country Canada.

In fact, At Mortgage Suite we can help you online right away, and perform the online approval from where you are located.

Mike Braga Mortgage Agent

Firstly,  Non-resident for mortgage borrowing means:

• All Canadian citizens, permanent residents and foreign residents, that do not reside in Canada.

Secondly, I would like to go through a current list with you to help you make the process easier.

• Canadian citizens or permanent residents with ties in Canada,
  • • active credit history, and established savings in Canada may get approved under STANDARD Mortgage guidelines.
• Maximum 65% loan to value of property.
  • • Gifted down payment must come from immediate family and proof via 90 days of bank statements.
• US clients can provide a copy of the Equifax US credit bureau
• Non-Residents are required to provide credit history and/or bank statement history plus some additional information.
• There is a standard income confirmation that is required for approval, such as a letter of employment and paystubs.
• Avoid Non-Resident Speculation Tax

Speak to a professional at our mortgage team when you plan on buying and investing in Canada. With access to over 121 lenders, Mortgage Suite is able to compare the best interest rates in Canada.

Lastly, Mortgage Suite can explain your agreement in detail to ensure that you have a full understanding of the terms and conditions before signing. In addition handling the majority of the paperwork for you.