New To Canada Mortgage – Helping You Get The Right Solution For Your Mortgage Needs
This E-Book helps you understand what the banks, trust companies, and other lenders are looking for when applying for a mortgage. This E-Book will provide you with the information needed to ensure you get the best mortgage rate and solution for your mortgage needs!
New to Canada Mortgages in Toronto
Citadel Mortgages can help you realize your dream of homeownership with our New To Canada Mortgage Programs. We have the right mortgage solutions available exclusively to our permanent and non-permanent resident borrowers.
Citadel mortgages new to Canada program helps you from start to finish. It is a step-by-step process that is UNIQUE to citadel mortgages that have helped many of our borrowers to date.
We understand you want to own a home, and at Citadel Mortgages, we make it simple for you. So see the Difference for Yourself, Get Approved Today!
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*Some conditions apply, mortgage must close.
Newcomers can purchase a home with as little as 5% insured financing or as much as 35-50% down depending on the program. At Citadel Mortgages, you will also have competitive interest rates and exceptional service to match your exact mortgage needs!
- Purchase transactions: 95% LTV
- Property value ≤ $500,000 – 5% down payment required
- Property value > $500,000 and < $1,000,000 – 5% down payment required up to $500,000, with an additional 10% down payment on the portion of the home value above $500,000
- Valid work permit or verification of landed immigrant status
- Income Confirmation
- Down payment confirmation
- Purchase and Sale Agreement
- Letter of reference from a recognized financial institution
- Six (6) months of bank statements from the primary account
- International credit report demonstrating a strong credit profile
- Two (2) alternative sources of credit demonstrating timely payments (no arrears) for the past 12 months. The two alternative sources required are:
- Rental payment history confirmed via letter from landlord and bank statements **
- One other alternative source (hydro/utilities, telephone, cable, cell phone and auto insurance) to be confirmed via letter from the service provider or 12 months billing statements
Find out how much home you can afford
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Calculate how much you’d spend each month to buy a home or renew or refinance your mortgage.
Start thinking about how much you spend each month, create a budget, and start saving up for your home.