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| Subject: buying a house whilst on a work visa |
can anyone tell me if this is possible or are there rules saying that unless your a PR you cannot get a mortgage?
cheers
[13-08-2006,17:09]
[***.93.21.67]
sam |
(in reply to: buying a house whilst on a work visa)
It is possible only if your employer guarantees you will have work for 5 years or more. Why don´t you just downpay half the price? Then banks would be more willing to finance the remainder. In case you stop paying or go obsconding from the country, they can re-possess the house and sell it at profit.
[13-08-2006,20:06]
[***.202.54.107]
righteous man |
(in reply to: buying a house whilst on a work visa)
Do you have a brain? When a bank re-possess your house they can´t keep a profit! They are only allowed to keep the money that is owed to them. The rest of the money goes back to the person who had the house taken away!
Duh I think there are some really dumb people around here!
[14-08-2006,00:17]
[***.189.225.207]
Anonymous |
(in reply to: buying a house whilst on a work visa)
sam -- my partner and I from the US bought a house in Canada -- we were just visitors, not even on a work permit. We used BMO to finance...you may want to check with them. We did have to talk to several people before we found one who knew how to do a mortgage for a non-resident. We got told no a few times, but eventually found someone who knew what to do.
[14-08-2006,01:47]
[**.155.133.45]
Michael |
??? (in reply to: buying a house whilst on a work visa)
[14-08-2006,02:09]
[***.107.127.198]
Dotan |
(in reply to: buying a house whilst on a work visa)
what does buying a house has to do with status in Canada????
[14-08-2006,02:09]
[***.107.127.198]
Dotan |
(in reply to: buying a house whilst on a work visa)
Buying a house has nothing to do with your status in Canada....although it is very stupid to do so, unless you only plan to use it for vacations....as your status is quite temporary on a work permit, and even if you have a job now, you may not have one in the future.
Canadians generally don´t like hiring those whom are not Canadian....and realtors in Canada will take your shirt if they know you need to resell your house because you are out of work or leaving the country.
Think, then think again, before you make such a big decision. Trust no one.
[14-08-2006,10:49]
[**.29.237.2]
Anonymous |
(in reply to: buying a house whilst on a work visa)
Yes, makes little sense to buy a house and not be PR, unless as a vacation home or for investment purposes.
[14-08-2006,13:38]
[***.130.12.0]
Richard |
(in reply to: buying a house whilst on a work visa)
However, if you believe you have a good chance to eventually live permanently in CA, buying a house may make good sense as the prices are always going up (in many areas) and you could always sell at a profit if you change your mind. You of course have to take into consideration mortgage interest, property taxes, etc, but you pay to rent anyway, and have nothing to show for it at the end.
[14-08-2006,20:17]
[***.123.98.203]
Bob |
