D. M.

Hello Everybody! We are looking forward to receive our PR visas soon. We would like
to buy a house in Toronto as soon as possible. I wonder if in Canada we could receive
any special low percentage credit for fresh immigrants or sthg like this? If anybody
heard about it (sthg like "state credit in US" for permament residents) please tell
me and I really appreciate any sugestions. Thank you,
D.M.

The Wizzard

i am not aware of anything specificly for new residents. one thing you may want to do
is look into RSP's last time i looked if you had an RSP and were a first time house
buyer you could take out part of the RSP early as a kind of loan to use towards
buying a house, i think the max was around $20K, so if you and yoru wife had one
erach it would be $40K, not sure of the exact details i wasnt looking into it very
hard but thats the only thing i can think of off the top of my head geared towards
first time buyers. of course you then need to get the mortgage for the rest so that
may be a credit issue. try renting for a while to build up a good credit rating.


"D. M." <[email protected]> wrote in message news:[email protected] m...
    > Hello Everybody! We are looking forward to receive our PR visas soon. We would like
    > to buy a house in Toronto as soon as possible. I wonder if in Canada we could
    > receive any special low percentage credit for fresh immigrants or sthg like this?
    > If anybody heard about it (sthg like "state credit in US" for permament residents)
    > please tell me and I really appreciate any sugestions. Thank you,
    > D.M.

bighead

nope.. the only way you would be able to qualify for a mortgage for a house is if you have a very well paying job, and a substantial downpayment..

otherwise you probably wont qualify for a loan in the first place, and even if you find someone to lend you that much money, it will be at a substantial interest rate

John Dyer

Hi there.. I am a Realtor in the Greater Toronto area. I just recently helped someone immigrate into Canada and helped them buy a house. I have a few mortgage manager and bankers that I work with. If you send me an e-mail with your contact information we can see what you would qualify for, then I could send you potential listings before you even arrive in Toronto.

My e-mail address is: [email protected]