“Non-Resident” Mortgage Financing

Canadian mortgage lending institutions (typically banks, trust and life companies, most credit unions, etc) must conform to lending practices established under the regulations of the National Housing Act (NHA). Mortgage funding and property values are measured in Canadian dollars (CAD).

With CanadaMortgages… We often negotiate superb mortgage loans on behalf of our non-resident clients. Many of our national Canadian lenders will provide quality conventional financing (subject to a property evaluation and confirmation of applicant’s cash-flow ability, asset/liability structure, and credit repayment history).

NB: We do not charge professional fees for securing new residential first mortgage financing AND our low discounted rates, preferred terms & options are all available to qualified Non-Resident Applicants.

Non-resident (With Canadian Citizenship):     Non-resident (Not a Canadian Citizen):

Some Additional Facts

A Canadian legal counsel (lawyer or notary) will be required to register land title documents, and lenders will request an accredited Canadian Real Estate Appraiser to confirm the subject property fair-market value.

Residential mortgage financing requires personal covenants. Properties purchased under cooperate names will not qualify for residential pricing.

Most NHA lenders will only lend on residential freehold or strata titled units. Lenders for leasehold units, or rental-restricted units such as hotel type properties are rare.

Canadian mortgages are calculated semi-annually not in advance. Maximum amortization period with most lenders is twenty-five years.

Canadian credit agencies are not always able to provide personal credit information from outside of Canada. It may be necessary for you to obtain such confirmation of credit worthiness from your local banking institution.

Lenders usually request that you service your new mortgage from a branch account within their organization.

Non-Residents wishing to purchase or refinance a home in Canada… select CanadaMortgages.ca. Superior Professional Service. No Fee Discount Mortgages Coast to Coast.