I will be relocating to Canada in December'13 on WP along with my family. I wish to understand whether WP holders are allowed to buy property in Canada? What is the eligibility to avail a Mortgage Loan? Do banks offer them the same privileges as a Permanent resident? ie. low interest rates, less down payment for eg. 5%, etc?
nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors
nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee
qualified with the following:
• Study Permit
• Work Permit
• Temporary Resident Visa
You may qualify with:
**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required
Up to 65% Loan to Value-Up to $1 million.........preferred rates!
If income and employment can be verified:
Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units
nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors
nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee
qualified with the following:
• Study Permit
• Work Permit
• Temporary Resident Visa
You may qualify with:
**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required
Up to 65% Loan to Value-Up to $1 million.........preferred rates!
If income and employment can be verified:
Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units
nonresident
living outside of Canada or resides in Canada for less than 183 days and maintains a foreign address.
foreign investors
nonpermanent resident
that has been granted a permit to temporarily reside in Canada who may apply for permanent residence status.
work permit, refugee
qualified with the following:
• Study Permit
• Work Permit
• Temporary Resident Visa
You may qualify with:
**no verification of income or employment
** disclosure of Canadian‑based assets and liabilities is required
Up to 65% Loan to Value-Up to $1 million.........preferred rates!
If income and employment can be verified:
Non-Permanent Residents-Up to 90% - 1 unit, owner-occupied
Permanent Residents-Purchase up to: 95% 1- 2 units, 90% 3- 4 units
Refinance up to: 80% for 1- 4 units
The answer is yes. WP holders can buy property in Canada and the banks provide them the same privilege. Don't worry about it. Otherhand you can consult with a bank.
