Hi Everyone... hands up in self defence mode but I am tying myself in knots trying to find the answers that I know are around somewhere here

We're having trouble selling our property here, which means we may have to rent it out, which is a bit of a bummer as we'll lose the additional $40,000 which we could put down on a mortgage as we're going to have to use some of the equity here .... ho hum

What I need to know is, do we have to have the 35% if we are on a work permit or are we ok with a smaller deposit because hubby has a job already? I sure hope so cos house prices are going up so much it looks like we're only going to be able to afford a shoe box as it is LOL

Thanks and no shooting please

With a SIN number beginning with 9, getting any kind of credit in Canada may be difficult. Not impossible,but more difficult than usual.

Really? So, not likely for mortgage then?

See what others say.
Note I did say "difficult" not "impossible"

Thanks JAJ, will do

So, as Anthony Hopkins said to Tom Cruise - "it's mission impossible Mr Hunt not mission difficult - difficult should be a walk in the park"

Luckily this message will not self distruct in 5 seconds LOL

we've got one arranged, theres a new thing out where you only have to put 10% deposit down, I think the scheme is some sort of Gov scheme, anyway our mortgage broker new about it and we complete on our house the day after we arrive (so thats a week today) anyway I hope someone will have more details about what I'm on about because my heads a bit mushy with the move.

[Hi
We managed to get a mortgage even though we're only here on hub's work permit. It's only a one year permit that expires in Dec, (thankfully in the process of being renewed), but we still got a good 'deal' through a mortgage broker. Granted we are putting down a hefty deposit but it wasn't a problem since we were able to provide a letter from hub's company, bank references etc.
Good luck, it is 'doable'.

We got a 'Line of Credit' on our (9) sin numbers/work permits with very little difficulty - the downside is the credit (prime) rate was 4.25% when we signed up last year - it has now risen to 6% :scared: The good thing is you can pay just the prime rate or as much as you want over the prime.

Thanks guys that's reassuring to know some of you have done it... we're hoping to put down a 15-20% deposit so hopefully a broker will be able to help us

The mortgage broker we have been dealing with reckons we will only need to put 10% down. I have pm'd you re the broker we have been speaking to.