Our 3.99% 6-Mo Fixed is the lowest mortgage rate available in Canada.

Non-Resident Mortgages

Living abroad, but still have a toe in Canada? Or not a permanent resident, but looking to buy? There are new federal restrictions and eligibility requirements for buying a home — get expert mortgage advice that simplifies and saves.

Foreign Buyers Ban amended, and now extended to 2027

  • Those with permission to work in Canada and a valid work permit can buy a primary residence (other details apply)
  • Ban exceptions include permanent residents, refugees, and temporary workers (though with eligibility requirements imposed for home buying)
  • Read more here. Have questions? Give us a call today

Looking to own a home in the land of the North?

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. With recent restrictions, we know the mortgage ins and outs to offer the best advice and outline your options to make the process stress-free. If there's a program out there to help you, we have it at our fingertips.

Here are some details you need to know to help you buy a home in Canada.

Need a realtor referral? We can provide that too, from our trusted, long-standing relationships in the industry.

How does being a Non-Resident affect getting your mortgage?

On top of the recent federal requirements, 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 situation is unique, and we'll help you find the best fit or determine the right timing for your purchase.

As an eligible non-resident, your loan may require:

Larger Down Payment:

  • For U.S. residents, 20% down payment minimum is usually required, from one’s own resource
  • If you're living anywhere other than Canada or the U.S., a minimum 35% down payment is usually required, from one's own resource
  • The intended down payment must be available in a Canadian Bank account prior to the mortgage being funded
  • Your down payment cannot be in the form of a gift, and proof of funds for 90 days prior to financing is also required
  • If you already own property in Canada, a 35% down payment is required for your next property

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.

Our Preferred-Language Selector helps you find a great agent who speaks your language:

  • Click here: Find Your Agent
  • In the drop-down menu, select your friendly True North expert based on your preferred language
  • Give them a call, send them an email, or call our main line for help!

Across Canada, we work hard to provide easier mortgage access, at your best rates. We care about your mortgage needs, now and later.

We can help (a lot).