Can I buy a home immediately?

[ExpressoEntry]

Hello everyone!

I did my soft landing last year and plan to move to Canada in a couple of weeks. I have been living in the us for over 12 years and have excellent credit score here. I will also be able to put easily above 35 percent downpayment
.also my company is transferring me to Canada so I will have a job from day 1. I have been working with this same company in the is for over 8 years..so given all these factors would be able to get a mortgage immiditely after I move or do I have to wait for some time to qualify for mortgages ? If so , how long ?

 

[Copingwithlife]

Hello everyone!

I did my soft landing last year and plan to move to Canada in a couple of weeks. I have been living in the us for over 12 years and have excellent credit score here. I will also be able to put easily above 35 percent downpayment
.also my company is transferring me to Canada so I will have a job from day 1. I have been working with this same company in the is for over 8 years..so given all these factors would be able to get a mortgage immiditely after I move or do I have to wait for some time to qualify for mortgages ? If so , how long ?

You want to research whether or not your credit score will mean anything to anyone in Canada.
Sometimes you gotta start from scratch in building a new score
Different countries , different metrics in determining scores

 

[PrashantUpreti]

Hello everyone!

I did my soft landing last year and plan to move to Canada in a couple of weeks. I have been living in the us for over 12 years and have excellent credit score here. I will also be able to put easily above 35 percent downpayment
.also my company is transferring me to Canada so I will have a job from day 1. I have been working with this same company in the is for over 8 years..so given all these factors would be able to get a mortgage immiditely after I move or do I have to wait for some time to qualify for mortgages ? If so , how long ?

CIBC has a mortgage product where they pull US credit score and get you the mortgage . I dont think there should be any problem if you have 35 % down No Wait is required as you have to job in Canada .A good Mortgage advisor will be able to handle . Good luck

 

[ExpressoEntry]

CIBC has a mortgage product where they pull US credit score and get you the mortgage . I dont think there should be any problem if you have 35 % down No Wait is required as you have to job in Canada .A good Mortgage advisor will be able to handle . Good luck

Thank you!

 

[subodhp]

Hello everyone!

I did my soft landing last year and plan to move to Canada in a couple of weeks. I have been living in the us for over 12 years and have excellent credit score here. I will also be able to put easily above 35 percent downpayment
.also my company is transferring me to Canada so I will have a job from day 1. I have been working with this same company in the is for over 8 years..so given all these factors would be able to get a mortgage immiditely after I move or do I have to wait for some time to qualify for mortgages ? If so , how long ?

Many lenders should be able to pull your us credit report to lend you something, especially when you are planning to give 35% down. Best still call up a mortgage broker or a lender to check on documentation required

 

[Anpman]

Hello everyone!

I did my soft landing last year and plan to move to Canada in a couple of weeks. I have been living in the us for over 12 years and have excellent credit score here. I will also be able to put easily above 35 percent downpayment
.also my company is transferring me to Canada so I will have a job from day 1. I have been working with this same company in the is for over 8 years..so given all these factors would be able to get a mortgage immiditely after I move or do I have to wait for some time to qualify for mortgages ? If so , how long ?

Hi ! I bought my house with 20%down payment..I had similar case like you.I bought it within 4 months of moving.one of my friend bought within 1 month of moving.So it’s doable..saves rent.if u r sure about buying a house suggest u to start searching from usa only and can buy within 1 month of moving so that u dnt have to shift again.

 

[Copingwithlife]

Hi ! I bought my house with 20%down payment..I had similar case like you.I bought it within 4 months of moving.one of my friend bought within 1 month of moving.So it’s doable..saves rent.if u r sure about buying a house suggest u to start searching from usa only and can buy within 1 month of moving so that u dnt have to shift again.

If it involves a mortgage, the only one able to answer that is a bank .

And in some cases your American credit score means nothing

 

[armoured]

If it involves a mortgage, the only one able to answer that is a bank .

And in some cases your American credit score means nothing

Well yes this is sort of true - but there are mortgage brokers and other solutions.

Short answer is (imo) with 35% down, that's a 'fog the mirror' loan - if the borrower is alive, somebody will lend the money, the rest is how much it might cost.

But silly to discuss in general, realtors, bankers, brokers and the like will take the details and see what they can do.

 

[RebeccaK]

You want to research whether or not your credit score will mean anything to anyone in Canada.
Sometimes you gotta start from scratch in building a new score
Different countries , different metrics in determining scores

Hi - did you find help for buying a new home and the mortgage? I am Realtor and partner with CIBC to help newcomers.