There are many people who are considering starting new lives and investing their futures in another country, such as Canada. Or, it could be a case of being relocated for business reasons, but whichever reason applies to you, Canada offers many and various home ownership opportunities for newcomers. In the event you are a new arrival in the country or considering immigration in the not too distant future, then what are the mortgage options available to you?
Naturally, there are various conditions related to securing a mortgage in Canada, for example; you must have landed immigrant status. It is also reasonable to expect that you have secured full-time employment for at least three months. Alternatively, that you have been transferred to Canada by way of a corporate relocation program! To help you qualify and clarify the situation, it would be to your advantage to seek some professional advice from an established mortgage broker.
An experienced broker will guide you through the process, such as advising what documents you require to be granted a mortgage in Canada. Apart from the required documentation, your credit record will be inspected to establish whether you qualify for a mortgage in Canada. Should you be a new arrival in the country, and unable to provide this information at this time, then a preferred method to upgrade your credit score is to make application for a Canadian credit card. Upon gaining access to a card, ensure all due payments are made on time, which will show you are a responsible person and able to manage your debt.
Should you be in possession of a credit report from a commonwealth country like the United Kingdom and Australia, or the United States, this can help establish your credit record! However, it is always preferred that a credit history is started in the country you reside in. With this connection, the mortgage brokers representing your home purchase interests will provide you with guidance regarding meeting the specified requirements.
Ask your broker!
For the best type of qualified advice regarding a new home, you need the knowledge and expertise of experienced mortgage brokers. At Mortgage Guys we can answer your questions and provide advice and help regarding your funding needs for a new home, if you are new to Canada. We will protect your financial interests and obtain the best interest rate and mortgage package to meet your particular requirements.