Posted on: 28-10-06 06:05:22
Dear Friends Can some one guide me please?
Do I have to Pay Lender fee for town house mortgage?
If yes, how much is it?
Thank you,
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"First they ignore you, then they laugh at you, then they fight you, then you win" - Mahatma Gandhi
Quote:
Originally posted by parth1970
Dear Friends Can some one guide me please?
Do I have to Pay Lender fee for town house mortgage?
If yes, how much is it?
Thank you,
NO,
In most cases you DO NOT have to pay any lender fee or mortgage broker fee for getting a mortgage on OAC. Your mortgage broker gets a finder fee for arranging a mortgage on your behalf.
The lender and or mortgage broker will charge a fee only if,
You do not qualify based on the criteria of credit, verifiable income, job stability and your GDS & TDS ratios etc.
If you have good credit, verifiable income, serviceable GDS & TDS then you should not be paying any fees.
Should you need any clarification or help you can either PM me or email me. My email address is in my signatures.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Thank you Mr. Pramod
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"First they ignore you, then they laugh at you, then they fight you, then you win" - Mahatma Gandhi
Can a person with canadian PR and SIN buy property in Canada eevn he is currently not staying in Canada?
Can he qualify for the mortgage based on his US income?
Pardon me if this sounds silly, but I am eventually planning to move to Canada and have a stable job here in the US, but no GC in sight.
Quote:
Originally posted by Nishad
Can a person with canadian PR and SIN buy property in Canada eevn he is currently not staying in Canada?
Can he qualify for the mortgage based on his US income?
Pardon me if this sounds silly, but I am eventually planning to move to Canada and have a stable job here in the US, but no GC in sight.
You can buy a property in Canada even if you are a NON IMMIGRANT or PR of Canada based on your US income and Good Credit provided you put sufficient down payment ( around 35%) and the property is able to carry on the mortgage and other expenses it self on the amount of rent it will fetch.
Secondly, if you have a Canadian PR and a resident of Canada for Tax Purposes, then you can buy a house in Canada based on your US Income by just putting 5% down payment (subject to qualifying on income and OAC) provided you are also filing Canadian Taxes. I have helped a number of clients of mine who are Canadian PR having jobs in US and working remotely from Canada.
Having said that, every situation is different and is treated differently by different banks as per their policies. If you want to know more about this then you can PM me with your details and I can guide you accordingly.
Good Luck.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Oops.. Duplicate post
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
