Hi,

I wanted to get expert advice from mortgage brokers or pros. I am a recent landed immigrant having relocated from States after staying for 7 years.

I was on a workpermit (H1B visa) while in USA. I have continued working for the same employer with my payroll being run in USA.

I want to buy a house in Calgary as 1st time buyer with 5% downpayment. 5% downpayment would be preferable but 10% is a possibility with a stretch.

I would like to know if there are 1st tier or 2nd tier lenders that might be willing to service my mortgage.

Given the situation, What are my options?

Thanks in advance.

Tapak

Quote:

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Originally posted by Tapak

Hi,

I wanted to get expert advice from mortgage brokers or pros. I am a recent landed immigrant having relocated from States after staying for 7 years.

I was on a workpermit (H1B visa) while in USA. I have continued working for the same employer with my payroll being run in USA.

I want to buy a house in Calgary as 1st time buyer with 5% downpayment. 5% downpayment would be preferable but 10% is a possibility with a stretch.

I would like to know if there are 1st tier or 2nd tier lenders that might be willing to service my mortgage.

Given the situation, What are my options?

Thanks in advance.

Tapak

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Quote:

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Originally posted by Pramod Chopra

Quote:

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Originally posted by Tapak

Hi,

I wanted to get expert advice from mortgage brokers or pros. I am a recent landed immigrant having relocated from States after staying for 7 years.

I was on a workpermit (H1B visa) while in USA. I have continued working for the same employer with my payroll being run in USA.

I want to buy a house in Calgary as 1st time buyer with 5% downpayment. 5% downpayment would be preferable but 10% is a possibility with a stretch.

I would like to know if there are 1st tier or 2nd tier lenders that might be willing to service my mortgage.

Given the situation, What are my options?

Thanks in advance.

Tapak

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Hi Tapak,

Your location still showing Tampa, Florida.

Please provide a little more information, either here or through PM, and I am sure you would qualify for the mortgage under CMHC newcomer program as I have done mortgages for my clients working in US.

1. When did you land in Canada? Have you ever filed any Canadian Tax Return? I am guessing not as you mentioned that you are a recent landed immigrant.

Rep:I landed this summer. I haven't filed any Canadian Tax return yet.

2. Does your employer have a representative office in Canada or do you work remotely from home?

Rep:I commute to states on weekdays. Sometimes do remote work too.

3. How do you get paid? Is it a salaried position and they deduct all the taxes there in USA?

Rep:Yes. I am salaried and get paid in USA.

4. Can you provide a job letter and pay stub and salary deposits either in a US account or in a Canadian Account? These would be needed not only for down payment proof but also proof of salary being deposited in your account. You may also need to provide a couple of your US tax returns along with your W2.

Rep:Yes.

5. Do you have any credit card in Canada? Or, Do you have any Canadian Credit history. If not, You must have a credit history in USA. You would NEED to provide the same as well.

Rep:I just have USA credit history.

6. Did you buy any house or property is USA in the last 7 years you stayed there? If yes, have you sold the same or still own it? If yes, then you would have to provide all the details of the property including mortgage payments, taxes and rental income, if any.

Rep:I have rented all the time in USA.

Take care.

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Quote:

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Originally posted by Tapak

Quote:

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Originally posted by Pramod Chopra

Quote:

---

Originally posted by Tapak

Hi,

I wanted to get expert advice from mortgage brokers or pros. I am a recent landed immigrant having relocated from States after staying for 7 years.

I was on a workpermit (H1B visa) while in USA. I have continued working for the same employer with my payroll being run in USA.

I want to buy a house in Calgary as 1st time buyer with 5% downpayment. 5% downpayment would be preferable but 10% is a possibility with a stretch.

I would like to know if there are 1st tier or 2nd tier lenders that might be willing to service my mortgage.

Given the situation, What are my options?

Thanks in advance.

Tapak

---

---

Hi Tapak,

Your location still showing Tampa, Florida.

Please provide a little more information, either here or through PM, and I am sure you would qualify for the mortgage under CMHC newcomer program as I have done mortgages for my clients working in US.

1. When did you land in Canada? Have you ever filed any Canadian Tax Return? I am guessing not as you mentioned that you are a recent landed immigrant.

Rep:I landed this summer. I haven't filed any Canadian Tax return yet.

2. Does your employer have a representative office in Canada or do you work remotely from home?

Rep:I commute to states on weekdays. Sometimes do remote work too.

3. How do you get paid? Is it a salaried position and they deduct all the taxes there in USA?

Rep:Yes. I am salaried and get paid in USA.

4. Can you provide a job letter and pay stub and salary deposits either in a US account or in a Canadian Account? These would be needed not only for down payment proof but also proof of salary being deposited in your account. You may also need to provide a couple of your US tax returns along with your W2.

Rep:Yes.

5. Do you have any credit card in Canada? Or, Do you have any Canadian Credit history. If not, You must have a credit history in USA. You would NEED to provide the same as well.

Rep:I just have USA credit history.

6. Did you buy any house or property is USA in the last 7 years you stayed there? If yes, have you sold the same or still own it? If yes, then you would have to provide all the details of the property including mortgage payments, taxes and rental income, if any.

Rep:I have rented all the time in USA.

Take care.



Thanks for taking sometime reply to my post. Please see my inline response

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

I had similar case few years ago and got mortgage approved based on my US job (that too of less than a year credit history) and no history in Canada but landed PR.

Enjoy the hieght of consumerism !