learned something new
Aug 4th 2010, 12:27 am
#1
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Joined: Oct 2008
Posts: 241
learned something new
well i didnt know that one of the requirements for buying a house was you had have pr.
learn something new everyday.
learn something new everyday.
Aug 4th 2010, 1:22 am
#3
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Joined: Jan 2007
Posts: 1,554
Re: learned something new
^^^ DITO ^^^
What he said.
I know guys who have come here and bought within days.
The only thing I have been made aware of is "SOME" not all lenders are sometimes reluctant to lend as truckers dont usualy have a set monthly income amout as they are usualy paid by the mile plus the other bit n bobs (layovers, waiting time etc etc) therefore they cant say I earn every month $4000 so the lenders can work off that. They sometimes treat it as a commision type earnings as it fluctuates from month to month.
Thats all I have ever heard. I rent so cant help much more.
What he said.
I know guys who have come here and bought within days.
The only thing I have been made aware of is "SOME" not all lenders are sometimes reluctant to lend as truckers dont usualy have a set monthly income amout as they are usualy paid by the mile plus the other bit n bobs (layovers, waiting time etc etc) therefore they cant say I earn every month $4000 so the lenders can work off that. They sometimes treat it as a commision type earnings as it fluctuates from month to month.
Thats all I have ever heard. I rent so cant help much more.
Aug 4th 2010, 4:30 am
#5
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Thread Starter
Joined: Oct 2008
Posts: 241
Re: learned something new
^^^ DITO ^^^
What he said.
I know guys who have come here and bought within days.
The only thing I have been made aware of is "SOME" not all lenders are sometimes reluctant to lend as truckers dont usualy have a set monthly income amout as they are usualy paid by the mile plus the other bit n bobs (layovers, waiting time etc etc) therefore they cant say I earn every month $4000 so the lenders can work off that. They sometimes treat it as a commision type earnings as it fluctuates from month to month.
Thats all I have ever heard. I rent so cant help much more.
What he said.
I know guys who have come here and bought within days.
The only thing I have been made aware of is "SOME" not all lenders are sometimes reluctant to lend as truckers dont usualy have a set monthly income amout as they are usualy paid by the mile plus the other bit n bobs (layovers, waiting time etc etc) therefore they cant say I earn every month $4000 so the lenders can work off that. They sometimes treat it as a commision type earnings as it fluctuates from month to month.
Thats all I have ever heard. I rent so cant help much more.
Aug 4th 2010, 3:03 pm
#7
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Joined: Aug 2007
Location: N.Ireland
Posts: 419
Re: learned something new
Sure lots of people own holiday homes right across N.America, and they live elsewhere in the world throughout the year and only visit maybe once.
Aug 5th 2010, 3:09 am
#8
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Joined: Oct 2009
Posts: 281
Re: learned something new
Did the deal and had the mortgage approved in principal before I even had an LMO. When I got the WP I finalised it withing a week. I didn't get PR for 2 1/2 years but was in the house 9 weeks after I arrived.
Aug 5th 2010, 5:32 pm
#9
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Location: 9 years in the canadian trucking industry... Niverville MB
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Aug 6th 2010, 5:38 am
#10
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Re: learned something new
so which mortgage companies are all these with?
Aug 6th 2010, 5:44 am
#11
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Posts: 281
Re: learned something new
I went through a local broker and my mortgage is with one of the local credit unions. Often it is the best way to go because you will value the personal service you get and local folk are more likely to explain how things work here.
Aug 6th 2010, 12:57 pm
#12
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Location: 9 years in the canadian trucking industry... Niverville MB
Posts: 4,423
Re: learned something new
Got mine through a normal bank CIBC
Aug 6th 2010, 11:11 pm
#13
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Posts: 281
Re: learned something new
Gremmie, you and "normal" are mutually exclusive, aren't you?
Aug 7th 2010, 12:02 am
#14
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Location: Woodstock New Brunswick (From UK)
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Aug 7th 2010, 1:24 am
#15
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Joined: Jan 2010
Location: Canada
Posts: 74
Re: learned something new
I bank with the RBC and have only been here since April and was told can have a mortgage straight away but if i wanted a credit card then i would have to give them $500 security! 
They would give a mortgage as if we did a fly by they would just sell the house. Normal deposit required and insurance.
They would give a mortgage as if we did a fly by they would just sell the house. Normal deposit required and insurance.
