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Mortgage Advice for Immigrants
Finding the right Canadian mortgage can be a frustrating and difficult process at the best of times. If you have recently moved to the country, or you are planning your move to Canada, acquiring your new mortgage could be even more of a challenge. Most Canadian lenders have a regimented set of criteria that must be met in order for them to lend money to non-residents.
Lenders, generally, look mainly at the amount of down payment you are able to provide and your employment status in Canada. Those who are able to offer larger deposits, generally in excess of 35 per cent, usually stand a greater chance of qualifying than those offering 10 per cent, but this is not always the case. Our professional mortgage brokers will work for you to find a mortgage product that enables you to purchase your home in Canada.
Lenders will request the following items of information:
- Were you transferred to Canada by your current employer?
- How long have you been employed with your current company?
- Did you move/are you moving to Canada to start a new job? If so, is it in the same line of work that you were working in previously?
- In which country did you previously work and/or reside?
- What is your previous work experience?
Moving to a new country, in itself, induces enough stress; let our experienced mortgage brokers help you remove some of the burden by helping you find the right mortgage for your new Canadian home. We will discuss your unique situation and establish your options right away. Super Brokers has access to a large network of lenders in Canada. Get in contact with a mortgage broker today by filling out a secure online application, free of charge.