TEK tower Kitchener. How to buy a house for new immigrants to Canada? Buying a house is a big deal for all new and old immigrants in Canada, especially for Canadian first-time home buyers. Buying a house is a big challenge, and in many cases the process of buying a house is not clear.Please Visit: TEK tower Kitchener to Get Your VVIP Registration Today!
So, how should Canadian immigrants buy a house in Canada? what process should Canadian immigrants take in the process of buying a house in order to be foolproof?
Because for the loan department of the bank, immigrants who land in Canada within 2 to 3 years can be counted as new immigrants and can make loans under the scheme of new immigrants, otherwise they will need local tax return income in Canada (proof that the applicant has a stable job in Canada) to make the loan.
Within two to three years after you Landing in Canada, if you want to apply for a loan and have overseas income and domestic income as evidence of your economic strength, you can persuade the bank to approve the loan on the application materials submitted.
However, we need to pay attention to one thing: if the applicant has been in Canada for too long, has been close to or over three or four years, but still has no domestic income, tax return record, etc., the bank will doubt whether the applicant really wants to come to Canada to live and work in peace and contentment, or has a tendency to speculate.
Therefore, once the time limit of two or three years after landing in Canada has passed and there is still no domestic income in Canada, banks will not easily recognize everyone’s overseas income when approving loan applications.
The bank’s loan policy for “new immigrants” depends on how long the applicant has landed and how long the applicant has lived in Canada. The duration is different, the requirements for applying for loans are different, and the difficulty of approving loans is also different. Often, banks will judge whether they belong to the category of “new immigrants” as defined by the bank according to their maple leaf card PR Card and landing form Landing Paper.