Mortages for temporary Residents?

Old Jul 6th 2005, 7:06 am
  #1  
Journeyman Canadian
Thread Starter
 
scimdarren's Avatar
 
Joined: Dec 2004
Location: RM of Tache, Manitoba
Posts: 494
scimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of light
Default Mortages for temporary Residents?

Hi

we are moving to Winnipeg in a couple of weeks and our house is still on the market, just wondering if anybody knows if we will have to wait for our PR until we can get a mortgage or we can get one as Temp Res until our PR comes through?

Thanks

Sarah
scimdarren is offline  
Old Jul 6th 2005, 7:10 am
  #2  
ModerĪ±tor Emeritus
 
iaink's Avatar
 
Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,771
iaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond reputeiaink has a reputation beyond repute
Default Re: Mortages for temporary Residents?

Originally Posted by scimdarren
Hi

we are moving to Winnipeg in a couple of weeks and our house is still on the market, just wondering if anybody knows if we will have to wait for our PR until we can get a mortgage or we can get one as Temp Res until our PR comes through?

Thanks

Sarah
Can be done as a PR, but its harder to arrange, and often a large deposit is required. I doubt any of the "big banks" will go for it, but I have read on here in the past that some temporary residents managed to do it somehow.
iaink is offline  
Old Jul 6th 2005, 7:15 am
  #3  
Forum Regular
 
Joined: Jan 2005
Location: dorset
Posts: 109
zider is an unknown quantity at this point
Default Re: Mortages for temporary Residents?

Oh Winnipeg, jewel of the Praries! Better have good insurance.
zider is offline  
Old Jul 6th 2005, 8:47 am
  #4  
Enjoying being in Canada!
 
Joined: May 2005
Location: Guelph, Ontario
Posts: 93
ExBritExAfrican is an unknown quantity at this point
Default Re: Mortages for temporary Residents?

I am a temp resident in Canada and have a mortgage. What I did was go through an independent mortgage broker. They require at least 10% deposit and proof of employment with salary (plus three months bank statement). I was also approved by ING Direct so you can try them too. Anyway, what I learned from being here is that if you search hard enough, you will get a deal. Good luck.
ExBritExAfrican is offline  
Old Jul 6th 2005, 10:04 am
  #5  
Yorkshire meets Vegas
 
Joined: Jul 2004
Location: T. ON (so there!)
Posts: 1,354
Pretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond reputePretty Flowers has a reputation beyond repute
Default Re: Mortages for temporary Residents?

Originally Posted by ExBritExAfrican
I am a temp resident in Canada and have a mortgage. What I did was go through an independent mortgage broker. They require at least 10% deposit and proof of employment with salary (plus three months bank statement). I was also approved by ING Direct so you can try them too. Anyway, what I learned from being here is that if you search hard enough, you will get a deal. Good luck.
I got a mortgage here as well, even though I'm on a temp working visa and had only been here for a week before it was approved. I didn't have to give them any bank statements.

It seems best over here to go through a mortgage broker, as the rates are a lot more negotiable through them. It doesn't work like it does in the UK where each institution has a fixed rate that they will offer you...
Pretty Flowers is offline  
Old Jul 6th 2005, 10:30 am
  #6  
Journeyman Canadian
Thread Starter
 
scimdarren's Avatar
 
Joined: Dec 2004
Location: RM of Tache, Manitoba
Posts: 494
scimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of light
Default Re: Mortages for temporary Residents?

Thanks All, we will hunt out a mortgage broker, for your info, it was Scotiabank who categorically said NO, unless we had PR.

mmmm...zider, do you know something we dont ?

Cheers

Sarah

Originally Posted by Sarah Farrand
I got a mortgage here as well, even though I'm on a temp working visa and had only been here for a week before it was approved. I didn't have to give them any bank statements.

It seems best over here to go through a mortgage broker, as the rates are a lot more negotiable through them. It doesn't work like it does in the UK where each institution has a fixed rate that they will offer you...
scimdarren is offline  
Old Jul 6th 2005, 2:31 pm
  #7  
Lost in BE Cyberspace
 
Biiiiink's Avatar
 
Joined: Sep 2004
Location: Windsor, ON; Chicago, IL
Posts: 6,713
Biiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond reputeBiiiiink has a reputation beyond repute
Default Re: Mortages for temporary Residents?

Originally Posted by scimdarren

mmmm...zider, do you know something we dont ?
If he does, he's not telling. I already asked in the last thread he sniped about Winnipeg and didn't get an answer
Biiiiink is offline  
Old Jul 6th 2005, 6:42 pm
  #8  
Journeyman Canadian
Thread Starter
 
scimdarren's Avatar
 
Joined: Dec 2004
Location: RM of Tache, Manitoba
Posts: 494
scimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of lightscimdarren is a glorious beacon of light
Default Re: Mortages for temporary Residents?

Sure, as Winnipeg is not the stereotypical place for an expat to choose. That expat has obviously done a lot of research to have discovered it in the first place, and is well aware of:

The flood history
Where they got the props (mossies) to make the movie, Starship troopers.
The highest murder rate per capita in Canada

Come on Zider....we're intrigued!



Originally Posted by Biiiiink
If he does, he's not telling. I already asked in the last thread he sniped about Winnipeg and didn't get an answer
scimdarren is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.