LICENSED MORTGAGES & TRUSTED FINANCE

LICENSED MORTGAGES & TRUSTED FINANCE
FSRA # 13667
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NEWCOMER STRATEGY

Architecting homeownership paths for new Canadians through stable income and alternative credit history

INVESTMENT GROWTH:

Unlocking built-up equity to consolidate debt, restore your credit, and strengthen your overall financial portfolio."

MORTGAGE SOLUTIONS

"Accessing the home equity your bank ignored. We prioritize your property's future value over traditional credit scores."

COMMERCIAL FINANCING

"Delivering specialized capital advisory for business owners, from operational funding to commercial property goals."

 FAQs

  • A: Individuals with permanent residency status can acquire a home with a down payment as low as 5%, although this choice is subject to limitations on home prices. Conversely, non-permanent residents typically must make a minimum down payment of 10%. Should your down payment be below 20%, mortgage default insurance will be necessary, potentially enabling you to secure a more favorable interest rate.

  • A: For a mortgage application as a newcomer, you will typically require proof of identity, a valid work permit (if relevant), documentation of your income (like pay stubs or employment letters), and verification of your down payment. Permanent residents are required to present their PR card or alternative proof of status. Additionally, it is beneficial to obtain a credit report from your home country, if it is accessible.

  • A:Generally, mortgages for newcomers are intended for primary homes instead of investment properties. If you're a newcomer looking to invest in real estate, you might have to fulfill extra criteria and offer a bigger down payment. It's advisable to speak with a mortgage advisor to grasp the particular requirements and choices that are available.

  • A: In Canada, securing a mortgage is generally reserved for individuals with permanent resident (PR) status. If you are a non-permanent resident, it is essential to possess a valid work permit to qualify for a mortgage.

  • IA: Yes, many lenders offer newcomer programs that accept alternative proof of creditworthiness, such as international credit reports, or 12 months of consistent rent and utility payment history, instead of a traditional Canadian credit score.tem description

  • A: While traditional mortgages often require two years of stable employment, newcomer programs can be more lenient, requiring as little as three months of full-time employment in Canada, provided other criteria are met.

  • A: Yes, you can use foreign funds for your down payment. Lenders will require documentation, such as bank statements (often a 90-day history), to confirm the source of the funds.