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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.

   
   
   
   
   
   
   
   
   
   
   
   
   
   
 
 
 
* Mutual Funds provided through "Worldsource Financial Management Inc.". Please read Disclaimer.
* Mortgages provided through "The Mortgage Centre".
* All other services provided by Mayrak Financial Solutions.
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