Applying for a mortgage if you're a recent immigrant...
Posted by Steve Harmer on
While some move to Canada to be with family members or for gainful employment, many others emigrate here to escape difficult situations in their home nations. Regardless of the motivation for moving, owning a piece of property is both a huge point of pride, and one of the most sought-after components of establishing a home in a new country.
But obtaining a mortgage in Canada for the first time can be a tricky undertaking without the right guidance and knowledge. There are several important points for new Canadians to take note of if they plan to purchase property in the near future.
You're considered a new arrival to Canada during your first five years in the nation, and you will be eligible to obtain a mortgage if you have your permanent…
1950 Views, 0 Comments
Moving to a new home is a big change in itself, but moving to a smaller space can be an even bigger adjustment.
Popular misconceptions about real estate make many people hesitant to get into the home-buying or -selling game. And that’s a shame.
ancouver, BC – December 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to 
Kamloops should escape the price shock homeowners in many parts of the province will experience when they tear open assessment notices next month.
Todays news from the Canadian Real Estate Association
Hot markets and cold feet might keep some people out of the housing market, but a lack of upfront cash doesn't have to be an obstacle. While it's long been the convention in the industry to start with a 20% down payment, the availability of mortgage default insurance means ownership is still possible with as little as 5% down, as long as the buyer meets industry standards of income and creditworthiness.
These are some of the most frequently asked questions by home buyers – questions that people in the Kamloops area are searching for answers right now! I hope that the responses can give you the answers to your questions..
Study after study suggests that Canadians are having a tough time paying off their mortgages, as debt levels continue to hit record levels year after year. Why?