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Homebuyer Program

The maximum amount of mortgage can be 65% of the purchase price or value of the property (lesser of the two). The down payment required is 35% – at least 10% must come from borrower’s own resources and the balance can be gifted by a family member and/or borrowed – we will not arrange for any down payment loans. Verification of assets for down payment will be required, and funds must be on deposit with a Canadian financial institution at least 30 days before the closing date. Out of country signing is not allowed – borrower(s) must be present in person to sign documents with a chosen Canadian legal representative.

Residents of the USA or other countries may purchase a property in Canada as a second/vacation home for their personal use or to be occupied by a child attending school, or to rent out.

Photo ID verification will be required for the borrower(s), along with an international credit bureau – if one cannot be obtained or it is too expensive to obtain, then a letter of reference will be required from the borrower(s) bank where assets are held to confirm confirmation of assets plus repayment history on any loans there. Standard income confirmation is required for loans up to 65% of the purchase price or value. For loans up to 50% of the purchase price or value, income requirements are waived.