The institutions are asking you for information…
Each financial institution would require checking your credit history in Canada, and for new immigrants this application is causing the problem. How can you prove that you are a good payer?
Are you a newcomer to Canada – less than 24 months and want to buy your first home?
You have a job for at least 3 months and a down payment of 5%. Request the help of a mortgage broker. Eligibility of the borrower:
Refinancing is a strategy to make the most of the value of your property with the refinancing of the mortgage. Whether you wish to renovate, consolidate your debt, lower your monthly commitments or invest for your future. It is possible to obtain mortgage financing up to 90% of the market value of your property. Looking forward to some renovations:
You can call a broker because your home is possibly the solution to funding your work. There are simple solutions mortgage for self-employed people with good credit history. Mortgage approval up to 90% of the value of the property is one of the options. It is even possible to get a mortgage without having to provide proof of income by a third party. Certain conditions apply. For example, construction people, taxi drivers, waitresses, workers and self-employed commission should all seek help from your mortgage broker, who will help move your house hold projects, consolidate your debts or get a new mortgage. Whether you are here on a permanent, or a non-permanent residence status, there are ways to make having a home a real possibility. Not all lenders are able to provide the best mortgage rate but they can always try to help you find the best mortgage available for your situation.
If you are a new immigrant and can provide proof of income to service the mortgage, many lenders will be able to provide a low rate, but with larger down payment mortgages. Some lenders do not require established Canadian credit history, as most immigrants will not be able to meet such criteria.
Standard rates and lending criteria apply although there always is more paper work to be provided as well as out of the country credit history if it is available. Each different institution looks at new immigrants in different ways.