Posted on: 13-04-07 10:09:26
hi friends we couple are a new immigrants here and we dont hold much of a bank balance, we are looking for to buy a small town house or a condominium, wat options do we have and how to go about it , can any one help us???????/
Quote:
Originally posted by cookieforkuchi
hi friends we couple are a new immigrants here and we dont hold much of a bank balance, we are looking for to buy a small town house or a condominium, wat options do we have and how to go about it , can any one help us???????/
Welcome to Canada and Canadian Desi.
Banks and CMHC have brought in some innovative products for new immigrants to buy houses here. If you search in charcha you will find this topic has been discussed earlier.
In a nut shell if you do not have a job or no credit then banks would like you to put around 35% down payments from your own sources. However, if you are a professional and have a job making over a certain limit and the job is permanent full time then you can buy house with a low down payment of 5 or 10 percent even without having any credit history here.
You can visit the website of CMHC and Genworth and would find information there. I will be posting some useful links later as right now I have to tend to my deals.
Take care.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
I have sent you a PM..pls check.
Rose
Quote:
Originally posted by rose16
I have sent you a PM..pls check.
Rose
Why PM ?
someone else could also be interested in information provided by you.
Please reply on the board, if you have something special to say.
Thanks in advance
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Rabyte
Deleted by moderator - no advertising in Charcha.
