New Immigrant Program
Welcome To Canada !
(for purchases and switches only) (GDS and TDS requirements waived)
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A New Immigrant is a customer who has obtained landed immigrant status within the last 5 years. A Landed Immigrant is a new immigrant who received
an official stamp on his/her immigration papers when
arriving in the country of immigration. The stamp
confirms landed immigrant status in that country.
Eligibility
The client must have obtained landed immigrant
status within the past five years, and meets one or
more of the following characteristics:
• A person with high esteem in the public
• A down payment of 65% of the properties value and the property value not exceeding $1,500,000. (Other terms and conditions apply. Please call to discuss)
• For mortgage under $500,000 - no income confirmation is required.
• Available for purchases and switches
• Will need an introduction from a customer in good standing or a letter from the banker with which the applicant currently holds an account
• A favorable credit report which identifies the applicant as not a credit risk
• If income source is offshore,
it is considered as a
non-resident application.
Required Documentation: Copy of Landed Immigrant Papers
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