Ask the Mortgages Expert – Erin Haiste, AMP
A NEW LIFE IN CANADA..
STARTS WITH A NEW HOME.
With Mortgage Financing, home ownership for new Canadians is possible.
Here’s what you’ll need:
- A valid work permit or verification of landed immigrant status.
- 3 months of employment history. If you arrived as part of a corporate relocation, you are exempt from this requirement.
- A down payment of typically 5% if you have full-time employment.
Remember, you have options!
There are other ways to demonstrate credit-worthiness that lenders will recognize such as:
- Proof of 1 year’s timely rent payment history. (To a non-family member)
- 12 months of payment statements for utilities, phone, cable, documented savings or insurance premiums.
I have excellent relationships with multiple lenders who specialize in programs designed for new Canadians.
I look forward to helping you with your first home in Canada!