Buying A Property As A New Immigrant

[ESSYLICIOUS]

I intend to buy a property on arrival in Canada in Ontario or BC. When I contacted an agent, I was told that I need to make a deposit of 35% of the cost price. I had thought it is less than than. However, I am able to make 20% of the cost price.

Experienced forum member please give me the right guide to purchase a property with reasonable price and with ease.

Thanks.

 

[KINGSLEY JOHN]

I intend to buy a property on arrival in Canada in Ontario or BC. When I contacted an agent, I was told that I need to make a deposit of 35% of the cost price. I had thought it is less than than. However, I am able to make 20% of the cost price.

Experienced forum member please give me the right guide to purchase a property with reasonable price and with ease.

Thanks.

I am also interested in this. Hope to hear from the forum members.

 

[ALRIVAS]

Hi Guys I'm a realtor working in the GTA for 13 years.
As a newcomer you could be able to buy with 20% to 35% downpayment it depends on several things like employment and credit history from the country you come from.
The process is very simple.
#1 we find a property with the criteria you want.
#2 you make an offer conditional on you getting a mortgage and doing a home inspection.Inspections are not normally done on condo apartments.
#3 when your offer is accepted you give a deposit that average 2% of the purchase price this deposit is applied to the downpayment or is returned if the transaction falls through.
#4 we start the mortgage process and do a home inspection using a professional inspector I will give 3 names or you can find one.
#5 you have 5 banking days to get the mortgage and do the inspection normally all these is done in 3 days.

For more info please visit my site alrivas .com for more info or contact me that way.

 

[KINGSLEY JOHN]

Hi Guys I'm a realtor working in the GTA for 13 years.
As a newcomer you could be able to buy with 20% to 35% downpayment it depends on several things like employment and credit history from the country you come from.
The process is very simple.
#1 we find a property with the criteria you want.
#2 you make an offer conditional on you getting a mortgage and doing a home inspection.Inspections are not normally done on condo apartments.
#3 when your offer is accepted you give a deposit that average 2% of the purchase price this deposit is applied to the downpayment or is returned if the transaction falls through.
#4 we start the mortgage process and do a home inspection using a professional inspector I will give 3 names or you can find one.
#5 you have 5 banking days to get the mortgage and do the inspection normally all these is done in 3 days.

For more info please visit my site alrivas .com for more info or contact me that way.

Thanks. I will review your website and contact you accordingly.

 

[Cheryllove]

My question is similar.... My Canadian husband and I want to buy in Port Alice. He says if we buy AFTER I get my PR his credit union wants only 5% down but he believes it will be 36% if it’s before I get my PR!?!? He also said he didn’t think he could add me as joint on his accounts until I get my PR. We’ve researched this but get conflicting information. Could you let me know which is true?

Hi Guys I'm a realtor working in the GTA for 13 years.
As a newcomer you could be able to buy with 20% to 35% downpayment it depends on several things like employment and credit history from the country you come from.
The process is very simple.
#1 we find a property with the criteria you want.
#2 you make an offer conditional on you getting a mortgage and doing a home inspection.Inspections are not normally done on condo apartments.
#3 when your offer is accepted you give a deposit that average 2% of the purchase price this deposit is applied to the downpayment or is returned if the transaction falls through.
#4 we start the mortgage process and do a home inspection using a professional inspector I will give 3 names or you can find one.
#5 you have 5 banking days to get the mortgage and do the inspection normally all these is done in 3 days.

For more info please visit my site alrivas .com for more info or contact me that way.

 

[canuck78]

My question is similar.... My Canadian husband and I want to buy in Port Alice. He says if we buy AFTER I get my PR his credit union wants only 5% down but he believes it will be 36% if it’s before I get my PR!?!? He also said he didn’t think he could add me as joint on his accounts until I get my PR. We’ve researched this but get conflicting information. Could you let me know which is true?

Go speak to your bank or credit union. There are so many personal variables. Without a Canadian credit history you may affect the terms of the mortgage. Would also wait until you get a job if you need to qualify for a larger mortgage.

 

[Cheryllove]

My husband is already prequalified based on his Canadian credit but he added my income from Social Security in when he gave his credit union our income. One mortgage broker emailed me that as long as I am married to a Canadian then the 35% downpayment a non resident has to pay isn’t a factor.... Another one tells us it is. I’m just trying to find out so if it isn’t a factor I can go on up and we can start on a mortgage before my PR is granted instead of waiting possibly months.

 

[Wolverine17]

Hi Guys I'm a realtor working in the GTA for 13 years.
As a newcomer you could be able to buy with 20% to 35% downpayment it depends on several things like employment and credit history from the country you come from.
The process is very simple.
#1 we find a property with the criteria you want.
#2 you make an offer conditional on you getting a mortgage and doing a home inspection.Inspections are not normally done on condo apartments.
#3 when your offer is accepted you give a deposit that average 2% of the purchase price this deposit is applied to the downpayment or is returned if the transaction falls through.
#4 we start the mortgage process and do a home inspection using a professional inspector I will give 3 names or you can find one.
#5 you have 5 banking days to get the mortgage and do the inspection normally all these is done in 3 days.

For more info please visit my site alrivas .com for more info or contact me that way.

Usually how much does it cost for a one bedroom condo in toronto and installments are on how many years average

 

[canuck78]

Usually how much does it cost for a one bedroom condo in toronto and installments are on how many years average

Depends on if you can get a condo a what the terms are. A 1 bedroom condo is usually close to 500 sq ft and around 350k. Not suitable for a family. The is a large range of prices and sizes if you look further out of the city.