Non-Resident Program (for purchases and switches only)
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A Non-Resident is any person or individual residing outside of Canada.
Note: Additional terms and conditions apply for U.S residents.
Please call to discuss.
Applicant Eligibility
A non-resident of Canada wishing to invest in a residential property and applying for a residential mortgage must meet one or more of the following characteristics:
• A person with high esteem in the public
• 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
Types of Property & Locations
The properties must be in any of the major Canadian cities (Toronto, Vancouver, Montreal, Ottawa, Calgary) and can be a single-detached, semi-detached, freehold townhouse, condominium town house or condominium apartment.
Loan Amount
A maximum loan of upto 65% of the property value, the mortgage amount where all property costs and/or disbursements are 100% covered by the property's actual and/or projected rental income.
Note: A Canadian local or domestic bank account must be provided by the purchaser or investor.
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