e: info@cashinmortgages.ca

t: 416.898.7600

October 25, 2017

Non-Canadian Resident Mortgages


Buying a property in Canada? We’re here to help.

Non-Resident or New to Canada Purchases

Cashin Mortgages has access to mortgage products designed for qualified home buyers who have immigrated to Canada, are relocating to Canada by an employer, or a US citizen that would like to invest in the Canadian market.

Non-Residents Buying in Canada

There are many lenders that provide mortgages to non-residents whether you are buying a vacation property or purchasing a property for investment.


Non-residents buying in Canada are eligible if the applicant is:

  • Considered an acceptable credit risk

  • Has a bankers reference/recommendation letter from country of origin or international credit bureau

  • Standard confirmation of income

  • Verification of assets

  • 35% down payment required (verification required)

  • Rental or vacation properties must meet standards

  • Appraisal

  • Max amortization 25 years

New to Canada

Qualified homebuyers who have immigrated or relocated to Canada can qualify for a mortgage under one of the programs below.

Each lender has different requirements, so it is best to talk to one of knowledgeable team members to get the best advice.
General Guidelines and Qualifications

New to Canada – 35% Down payment

  • Have recently immigrated or relocated to Canada within the last 60 months

  • Proof of permanent residency/landed immigrant status or have a valid work visa

  • Proof no taxes owed

  • Eligibility criteria

  • Proof of 35% down payment plus closing costs

  • Funds must be in Canada at time of application, with history of down payment

  • Proof of 12 months of savings to cover PIT payments (Principal, Interest and Property Taxes) in Canada

  • May require a letter of reference from recognized bank

  • New to Canada – less than 35% down payment (insurance premium will be added to mortgage amount)

  • Immigrated or relocated to Canada within the last 60 months

  • Proof of permanent residency/landed immigrant status or a valid work visa

  • Eligibility criteria:

  • Employed 3 months full time employment in Canada (job letter,pay stubs); no taxes owed

  • Proof of credit required from at least 2 sources – international bureau, bank reference letter, landlord letter and proof of rent payments,

  • Letter from utility company

  • All debts held outside of Canada must be included in qualifying

  • Min 5% down payment from own sources; remainder may be from immediate family member

  • Proof of down payment (90 days) plus 1.5% of purchase price set aside for closing costs

  • Proof funds are in Canada at least 30 days before closing

  • 25 year amortization

  • Less than $1,000,000.00

  • Owner occupied or occupied by family member

  • Cashin Mortgages can then shop the various lenders on your behalf to find the best solution for your individual situation. Apply Now. We’ll be here every step of the way.