Newcomer PR mortgage questions

[moscatojuices]

Man. You have some sort of weird fetish. I keep showing you and everyone reading this that you're dumb-dumb and you keep coming back for more. I guess it's true when they say that ignorance is bliss.

Regardless. I am not really jealous of anybody, especially not of self-proclaimed hard-worker-every-penny-saving-no-life-having guru. You turned this thread into your own personal manifest for no reason, other than you being so neglected that you've decided to jump into a conversation between two men. Irrespective, your shoebox and $1m house in Toronto are on the same level. The major difference is appreciation cost. Houses in Toronto will ALWAYS appreciate at a higher rate than houses in Regina. However, you have to have 1+ brain cell to understand that. So, you won't get it )


Sure. Except, in Canada, most of the jobs (at least in my field) are concentrated in 3 major cities. Toronto, Vancouver and Montreal. Social life are mainly in the aforementioned cities as well. I understand that social life doesn't interest you but most of us do have life. I also understand that your skills do not allow you to compete for top companies that are presented in those cities but still.


I work from home. On those rare occasions when I have to go to office, it's 20 minutes by walk and about the same by streetcar. The company also reimburses the fee that I would spend on streetcar. I do have a question; what is "top" for you? If you say FAANG, I would realize that you have no idea about software field as only a clueless moron would jump and say: "FAANG".


I am really trying to impress you. Just showing you that you are an idiot and that you should always remember your place. Btw, why someone making 230k or 100k in Canada surprised you? Bloomberg engineers make decent money.


Of course. I have to understand who I am talking to.


Not really. Just the fact that I always look at the post history to understand where the poster is coming from. When I saw that you were surprised about 100k salaries and that you dropped 60K on a chick, everything clicked for me.


See. You cannot even understand the joke about the cat. Why are you so obsessed about my cat? Is my cat that special one you dropped 60k on? I know she is cute but come on!! And you cannot really talk about "company". You moved to a place that literally has no life.

*yawn* your keyboard warriorism is getting boring. I do feel kind of honoured you're doing your research on someone you don't even know online, really tells me I got to you and I'm enjoying it.

By the way what is "appreciation cost" - I have never heard of this term, and I work in finance?? There is only appreciation, and there is "opportunity cost" in not holding an appreciating asset. You might need to re-take IELTS buddy, or did you use your KGB skills to hack your scorecard so it was presentable to IRCC?

Why would I care if my principal place of residence doesn't appreciate when most of my wealth is in other assets that do? The appreciation of my PPOR has no value to me because I likely won't be selling it, so fine by me. Either way, only a dumbass would think that the province with the most ambitious immigration quota will see no house price appreciation, so my timing is perfect. You can enjoy your $1m+ mortgage for life while I chew mine in <5 years only because banks make it hard for you to pay it all back too soon.

BTW notice how all my other assets appreciated? Shit, wait you have half a brain cell so you forgot. But you're happy to do research about my divorce, man I lost $60k in the grand scheme of $2m+ assets, oh no. A one-time $60k loss when $3-6k of cashflow flows into my bank accounts from rent/dividends each month. How terrible . How will you handle it when your mail-order bride takes your Toronto home and leaves you and your cat to live in a Streetcar? I can only hope for such an eventuality, so that your online and offline presence hopefully cease existing. Holy hell how will you survive when you lose money on a start-up venture because nobody wants to work for/with you?

LOL talking about my skills, clueless, I'm one of the highest paid for my skillset in the province, and I have a low cost of living with income from international asset supporting an amazing lifestyle. Only a retard like you would think there's nothing to do with Regina because of "Russian/Toronto" brain - your ego is so big you think you're the life of the party, which is only attended by your cat.

 

[Deleted member 1083629]

*yawn* your keyboard warriorism is getting boring. I do feel kind of honoured you're doing your research on someone you don't even know online, really tells me I got to you and I'm enjoying it.

By the way what is "appreciation cost" - I have never heard of this term, and I work in finance?? There is only appreciation, and there is "opportunity cost" in not holding an appreciating asset. You might need to re-take IELTS buddy, or did you use your KGB skills to hack your scorecard so it was presentable to IRCC?

Why would I care if my principal place of residence doesn't appreciate when most of my wealth is in other assets that do? The appreciation of my PPOR has no value to me because I likely won't be selling it, so fine by me. Either way, only a dumbass would think that the province with the most ambitious immigration quota will see no house price appreciation, so my timing is perfect. You can enjoy your $1m+ mortgage for life while I chew mine in <5 years only because banks make it hard for you to pay it all back too soon.

BTW notice how all my other assets appreciated? Shit, wait you have half a brain cell so you forgot. But you're happy to do research about my divorce, man I lost $60k in the grand scheme of $2m+ assets, oh no. A one-time $60k loss when $3-6k of cashflow flows into my bank accounts from rent/dividends each month. How terrible . How will you handle it when your mail-order bride takes your Toronto home and leaves you and your cat to live in a Streetcar? I can only hope for such an eventuality, so that your online and offline presence hopefully cease existing. Holy hell how will you survive when you lose money on a start-up venture because nobody wants to work for/with you?

LOL talking about my skills, clueless, I'm one of the highest paid for my skillset in the province, and I have a low cost of living with income from international asset supporting an amazing lifestyle. Only a retard like you would think there's nothing to do with Regina because of "Russian/Toronto" brain - your ego is so big you think you're the life of the party, which is only attended by your cat.

Oh shit! Your wife dumped you? Oh damn... Sorry to hear that. I guess it kind of makes sense. Did you try to give her a motivational speech about how if you both work hard you could save the marriage? I guess she just didn't care and wanted a real man who could satisfy her. Admit it; you are a failure whose only accomplishment is his 2M in assets. No family, no friends. What a sad man you are.

How did the start-up come into this picture? Lol you base your arguments around the assumptions you make about me.

Anyways, you are dismissed. Talking to you dropped my IQ by a few points. Would rather read a book or watch a good movie than talk to a Brit.

 

[roy1947]

I agree about being the worst time to buy the house. But, my math is, I pay 1.5x-2x in rent while it being too hard to rent with large pets. Even if the interest rates go up to 7%, I'll still be comfortable in paying my mortgage. If it becomes 16%, it will annoy me a bit, but still won't be that big of an issue.

I thought a lot about buyer's remorse too. Since I'm only thinking of getting something that I'd want to call a home for a 3-5 years, I don't feel bad about overpaying 10-20% due to the current situation.

Interesting. And I thought rich ppl like to live life king size with sea facing houses in prime location.
Different folks different strokes.

 

[moscatojuices]

Oh shit! Your wife dumped you? Oh damn... Sorry to hear that. I guess it kind of makes sense. Did you try to give her a motivational speech about how if you both work hard you could save the marriage? I guess she just didn't care and wanted a real man who could satisfy her. Admit it; you are a failure whose only accomplishment is his 2M in assets. No family, no friends. What a sad man you are.

How did the start-up come into this picture? Lol you base your arguments around the assumptions you make about me.

Anyways, you are dismissed. Talking to you dropped my IQ by a few points. Would rather read a book or watch a good movie than talk to a Brit.

Well as they say, "it's better to have loved and lost than to never have loved at all."

What are you now, in your 50s and never made it to second base and still paying a mortgage on a $1m Toronto home that nobody wants to visit because you're such a loser? Beyond pathetic - even your cat feels sorry for you, but I feel more sorry that your cat has to live with a parasite like you.

Just to say it again, because it can't get through your brainless head, we're not in Soviet Russia. You don't get to tell me what to do. Enjoy your book - the one you've written for yourself called "50 year old childless virgin still paying debt who lives in Toronto like it's an accomplishment."

 

[petertroy166]

Check your eligibility and compare banks. Need to confirm whether they will allow you to open an account before landing.

 

[iSaidGoodDay]

Check your eligibility and compare banks. Need to confirm whether they will allow you to open an account before landing.

I am not sure if you have been following this thread, but if you haven't - I already am pre-approved for mortgage. People with jobs in Canada, even from outside of Canada can easily get a mortgage. The 2 banks (one was Scotia) allows opening accounts from out of Canada.

 

[PenguMortgage]

Newcomer PR mortgage is very easy to obtain in Canada, one benefit of being a newcomer I would say

 

[moscatojuices]

I am not sure if you have been following this thread, but if you haven't - I already am pre-approved for mortgage. People with jobs in Canada, even from outside of Canada can easily get a mortgage. The 2 banks (one was Scotia) allows opening accounts from out of Canada.

I think you're one of those special people who is excessively smart. I'm wealthy and when I immigrated, even with a large amount of liquid assets, TD wouldn't give me a $1k credit card till 6 months into my life in Canada, and that's after rejections from RBC & Tangerine.

It's not about having jobs or anything, you've just got that unusual tenaciousness and you're almost too smart for your good and just know how to make things work and talk the talk. Getting a mortgage pre-approved before even landing is not something I've heard of - I know colleagues in IT who have stayed a year here, six figure salaries, struggling to get loans approved. I know lifelong Canadians who can't even get loans for shitty rural properties and they earn okay wages of $50k+ (I mean reasonable for a $200k house).

You're just an exception and I think you'll be very successful in Canada. Your biggest problem will be not getting scammed.

 

[iSaidGoodDay]

I think you're one of those special people who is excessively smart. I'm wealthy and when I immigrated, even with a large amount of liquid assets, TD wouldn't give me a $1k credit card till 6 months into my life in Canada, and that's after rejections from RBC & Tangerine.

It's not about having jobs or anything, you've just got that unusual tenaciousness and you're almost too smart for your good and just know how to make things work and talk the talk. Getting a mortgage pre-approved before even landing is not something I've heard of - I know colleagues in IT who have stayed a year here, six figure salaries, struggling to get loans approved. I know lifelong Canadians who can't even get loans for shitty rural properties and they earn okay wages of $50k+ (I mean reasonable for a $200k house).

You're just an exception and I think you'll be very successful in Canada. Your biggest problem will be not getting scammed.

When did you land in Canada, 2019?

Btw, what makes it easier is credit history transfer. My bank in India also has a Canadian entity and that enables it. Otherwise there's a 3 month waiting period for newcomers. The only caveat for that is min 35% downpayment for it as well.

 

[moscatojuices]

When did you land in Canada, 2019?

Btw, what makes it easier is credit history transfer. My bank in India also has a Canadian entity and that enables it. Otherwise there's a 3 month waiting period for newcomers. The only caveat for that is min 35% downpayment for it as well.

2020 - I'm from the UK and have the highest possible credit rating back home. The Canadian banks put it in the bin - all the same companies; Experian, TransUnion etc.

You're the crazy smart type and I envy you. The only person who could outsmart you is a gold digger who smells your ambition and earnings potential - so take care out there. Notice the grumpy Russian who was trolling me and telling me how to live? Don't be like him - he only has a cat and his account on this forum got deleted. Don't be like him.

 

[iSaidGoodDay]

2020 - I'm from the UK and have the highest possible credit rating back home. The Canadian banks put it in the bin - all the same companies; Experian, TransUnion etc.

You're the crazy smart type and I envy you. The only person who could outsmart you is a gold digger who smells your ambition and earnings potential - so take care out there. Notice the grumpy Russian who was trolling me and telling me how to live? Don't be like him - he only has a cat and his account on this forum got deleted. Don't be like him.

I thought it should've been easier for you. I know so many people who have bought homes in GTA/GVA within the first year of landing. My friend's stories aside, there are so many e.g. look at these folks:

They landed in March 2020 and bought their first home in Nov 2020.

 

[moscatojuices]

I thought it should've been easier for you. I know so many people who have bought homes in GTA/GVA within the first year of landing. My friend's stories aside, there are so many e.g. look at these folks:

They landed in March 2020 and bought their first home in Nov 2020.

Not me, I'm a millionaire and banks wouldn't touch me. All good though, I eventually bought my home in my 4th year for a far lower price than anticipated. It's a great home, in a great area (I have a brewery and board game cafe across the road!) and I'm 5 mins from work. I'll pay it off very quickly and plan to by 1-2 investment properties over the next year as well so that I build wealth from the equity of 3 homes.

I feel lucky. Most of my white Canadian/Brit friends feel home ownership is beyond them and are in their 30s/40s renting for life.

 

[petertroy166]

I am not sure if you have been following this thread, but if you haven't - I already am pre-approved for mortgage. People with jobs in Canada, even from outside of Canada can easily get a mortgage. The 2 banks (one was Scotia) allows opening accounts from out of Canada.

ok

 

[steaky]

I think you're one of those special people who is excessively smart. I'm wealthy and when I immigrated, even with a large amount of liquid assets, TD wouldn't give me a $1k credit card till 6 months into my life in Canada, and that's after rejections from RBC & Tangerine.

It's not about having jobs or anything, you've just got that unusual tenaciousness and you're almost too smart for your good and just know how to make things work and talk the talk. Getting a mortgage pre-approved before even landing is not something I've heard of - I know colleagues in IT who have stayed a year here, six figure salaries, struggling to get loans approved. I know lifelong Canadians who can't even get loans for shitty rural properties and they earn okay wages of $50k+ (I mean reasonable for a $200k house).

You're just an exception and I think you'll be very successful in Canada. Your biggest problem will be not getting scammed.

Being from the UK, why didn't you reach out HSBC? HSBC gave me $10 k limit Credit card into my first days living here in BC while even store cards such as Canadian Tire rejected my application. HSBC also approved Canadian mortgage while I was working outside the country.

 

[Rach WLT]

Hi, is it a crazy idea to think about buying a house within 3 months of landing without credit history in the country. I can afford down payment of 50% and want to borrow like $200k. I think with 200k mortgage, monthly repayment would be same or less as monthly rental which makes me want to think why not. As a newcomer, I won't have a job also, would that be possible to get a mortgage with my situation?