In order to get financing for buying properties, New Immigrants need the following:
Documentation (one of the following)
- Permanent Residence Card
- Immigrant Visa and Record of Landing documents issued by Citizenship and Immigration Canada
- Confirmation Permanent Residence Form containing Immigration sticker and approval from Immigration Canada
Down Payment
- 25% - 35% from own resources
- sources of down payment funds must be located in Canada or be on deposit with a Canadian Financial Institution
Net Worth
Must show additional funds located in Canada that is equivalent to 12 months to 36 months of PIT payments (principal, interest, taxes) in addition to down payment amount
* lender guidelines and policies are subject to change without notice
* additional information may be required by lenders
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