I heard that there should be no loans and the applicant must have the specified amount of CAD (min $12500.) Some of my friends want to apply but they have housing loans, which will take years to pay off? What will happen in this case?
Proof of funds. What if there are loans?
- Thread starter goingtocanadasoon
- Start date
You are right but what if there is an existing loan amount is huge? Eg: $20K in local currency? Hopes down the drain?
Usually it doesnt matter if you have housing loans as long as the required cash amount itself is not from a loan and not borrowed.
Was reading someone's GCMS notes here recently and saw the officer wrote something like ( seems that the applicant's debts are higher than his assets). But i think his loan was much bigger than 20k
I think your friend is good to apply dont worry
That's good news thanks. So as long as you have the money, loans don't really matter I guess.
Its all up to the immigration officer at the end, no one can give you any guarantee. Every case is different.