Living abroad, but still have a toe in Canada? Or not a permanent resident, but looking to buy a property? Get great advice and mortgage help.
For Canadians living abroad at least six months of the year, or for those living in Canada who are not permanent residents, buying a property and finding the right mortgage fit can be a bit overwhelming.
We love to help — we know the mortgage ins and outs to offer the best advice, while outlining your options to make the process stress-free. If there's a program out there to help you, we have it at our finger tips.
Talk to us, and breathe easier knowing your options and best rates. Plus, we're always here for any questions, now and in the future.
Need a realtor referral? We can provide that too, from our trusted, long-standing relationships in the industry.
Many lenders have restrictions for non-resident mortgages, or may not offer lending to non-residents. Financing may be offered at higher interest rates and require a larger down payment, compared to mortgages for Canadian citizens or permanent residents.
Even with restrictions, it doesn't mean this type of mortgage is out of reach. Every mortgage is unique, and we'll help you find the best fit.
Larger Down Payment:
Proof of Income: A recent paystub, along with a letter of employment from your current employer confirming the length of time at the company, your annual salary including bonuses, and confirmation that you are not on probation.
Proof of Credit: If a Canadian Credit bureau is not available to you, then an international credit bureau or letter of reference from your current bank is required.
Availability of Funds: Some lenders may require a year’s worth of mortgage payments to be retained in a Canadian bank account before approval.
At True North Mortgage, our diverse and helpful brokers come from many backgrounds. Follow the Find Your Agent link to look for a broker based on your preferred language (see the list in the drop down menu). Across Canada, we work hard to provide easier mortgage access, at your best rates.
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