Buying a property in Greater Montreal or Quebec?
Are you a newcomer or immigrant in Canada? Are you interested in buying a home but are struggling to get a mortgage with a better rate?
When it comes to buying a home, most Canadians don’t pay the full cost of their home in a single payment (i.e. all at once).
Finding the right home to buy often takes more time and care than renting as it is considered as more of a permanent commitment.
Generally, the money needed to finance the purchase of a new home stems from two sources:
This is the money you will borrow from a lender such as a bank.
Your mortgage down payment
This is the large sum of your own money that you will put to finance your home. The more money you put down, the less you need to borrow and the lower your overall interest costs will be.
It will always depend on your employment history and immigration status.
Qualified homebuyers who have immigrated or relocated to Canada within the last 5 years are eligible under the “New to Canada” program to purchase a property with as little as a 5% down payment.
General Guidelines for Home Ownership program:
Eligibility for newcomers in Canada:
The two alternative sources required are:
1) Rental payment history confirmed via a letter from landlord and bank statements
2) One other alternative source (hydro/utilities, telephone, and cable) to be confirmed via a letter from the service provider or 12 months billing statements
Note: The insurance premium is non-refundable, paid at the time of closing and may be added to the mortgage.
Target audience: this mortgage appeals to clients who:
In general, each program has similar requirements as what we have described above with respect to residency status, credit rating, and down payments. However, there are minor differences within each program that should be noted and which a professional will be able to help you understand. In providing these documents, we may then assist you in accessing a mortgage with as little as 5% down payments. Nonetheless, we always recommend making a larger down payment if possible.
There are different types of properties and business:
RESIDENTIAL PROPERTY: House, Condo / Townhouse / Coop, New Home, Duplex, Triplex, Fourplex, Vacation Property, Land, Chalet Water Front, Chalet / Cabin / Country House, Farmland and Chalet in Mont-Tremblant, etc.
COMMERCIAL PROPERTY: Multi-Family/Unit, Strip Mall / Plaza & Investment Property, Land, etc.
BANK FORECLOSURE PROPERTY: Bank Repossession / Foreclosure Property.
BUSINESS: Oil / Gas Station (Esso, Shell, Ultramar, etc), Motel, Depanneur, Restaurant, Resto Bar, Coffee shop, Grocery Store, Convenience store, Dollar shop, Boutique shop, Salon, etc.
AGRICULTURAL PROPERTY: Agricultural land, Agricultural Farm and Agricultural Property.
HOLIDAY HOME: Chalet / Cabin / Country house: Mont-Tremblant Resort area, It is around one and a half / 1½ hours drive from Montreal and Ottawa, Quebec, Canada.
RESTAURANT FRANCHISE: Burger King, PIZZERIA, QUIZNOS Subs,VALENTINE, SUSHI Shop, etc.
I can assist you to find Home, Business & mortgage also for New Immigrant in Canada. “Canada makes it easier for a new immigrant to get a mortgage than someone who is established here.
? For more information in details call today at ☎ 514-654-8890 or send an e-mail at firstname.lastname@example.org for all of your real estate needs!!