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| Subject: Home loan in Canada with good credit history |
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I´v just talked with a loan officier in Canada about a home loan application. I was trying to show her my good US credit.
However, she told me their don´t care what you have in the US at all (good or bad), you have to start from very beginning as immigrants from any other countries.
I guess one can borrow money in the US and file bankcruptcy and US that money to buy house in Canada.
Any comments?
[03-03-2005,12:50]
[***.99.63.2]
Anonymous |
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(in reply to: Home loan in Canada with good credit history)
It depends on lots of factors, also different brokers can even have different answers, the least possible is trying to apply thru private mortgage, you have to pay about 6.5% interest. I know somebody who are applying PR like us was approved for 80,000 dollars mortgage, however thru 6.4% private mortgage instead of bank, and he paid about 40% down payment. Sure credit history is one of factors, but one
[03-03-2005,16:58]
[***.25.33.247]
Yijie |
(in reply to: Home loan in Canada with good credit history)
How long of a credit history did you actually have in the US. I am sure it should get counted. If you have a long enough credit history in the US and/or owned a house in US before moving lo Canada, I think the loan officer is not giving you sufficient points for that, especially considering the US has a long list of trade and commerce treaties with Canada
[04-03-2005,00:14]
[**.149.33.180]
al |
(in reply to: Home loan in Canada with good credit history)
Hi
We have been in touch with a mortgage firm in Whistler, BC, and they welcome immigrants and indeed have special programs for them. They use US credit history. They would like 40-50% down.
Hope that helps.
ron and ben
[04-03-2005,00:28]
[**.161.128.46]
ron and ben |
(in reply to: Home loan in Canada with good credit history)
Just please check out different brokers. My suggestions are if you live in the west coast or B.C, consider market is hot and interest rate still pretty lower. In B.C, it??s never too early to buy properties. Forget about fancy cars, house is more important than anything else if you really wanna settle down in Canada.
My home country has much expensive house price than here, I can say it??s crazily hot like a toaster. Lucky you, my dream is to have a house in Canada, however, don´t know when it will come true.
[04-03-2005,04:30]
[**.66.78.235]
Yijie |
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