Common sense of Canadian new immigrants buying houses with loans

# 么么么么么么么 # Introduction The Canadian government stipulates that whether you are a newly arrived immigrant or a resident with only a short-term status, you have the right to buy real estate in Canada. The following is the common sense of buying a house with a loan from a new immigrant in Canada. Welcome to read!

1. Common sense of buying a house with a new immigrant loan in Canada

1, loan bank According to the regulations, foreign banks are not allowed to issue loans in Canada. That is to say, if you want to apply for a loan, you must go to a bank in Canada. Although the loan process may be a bit complicated compared with Canadian citizens, it is entirely possible to get a loan.

2. World Bank's concept of new immigrants

Generally speaking, many banks count people who have been landing for less than five years as new immigrants.

In addition to new immigrants who have just landed, some banks will also provide new immigrant loans to those who have submitted immigration applications and have file numbers.

3. Down payment conditions

Because of the high risk of lending to new immigrants, the corresponding banks will also require new immigrants to pay a relatively high down payment.

Different banks have different specific requirements. Generally speaking, banks require new immigrants to pay at least 35% down payment. And many banks require that your down payment be kept in a bank in Canada for 30-90 days.

However, according to the remittance country and whether the remittance record can be traced, the bank requirements will be different.

If possible, the down payment should be sent to Canada before applying for a loan, so it is more favorable to apply for a loan.

In addition, if banks allow new immigrants to pay less than 35% down payment, they will also be required to buy mortgage insurance to avoid risks.

4. Credit history

New immigrants who have just arrived in Canada have no long-term credit history and employment relationship, so those who have landed in Canada for less than five years must pay a down payment of 35%.

If the down payment of new immigrants exceeds 35%, banks do not need their income certificates to approve new immigrant loans.

Some banks explicitly require new immigrants to work in Canada for at least three months or obtain other documents to prove their credibility before applying for loans, such as work visas, letters of recommendation from employers or other banks, relevant credit reports in the country of departure, and documents showing the rent situation in the past 65,438+February or the source of down payment funds.

If you are sent to Canada because of job transfer, you can ask the head office to provide relevant documents to prove your work experience and credit degree.

5. Property tax

Canada's property tax may be different from your original country's system, so new immigrants must do their homework and budget well in advance.

BC province stipulates that first-time buyers can be exempted from property transfer tax. Property transfer tax is a tax of BC provincial government, and the tax is paid by the buyer. No matter what kind of property you buy in the province, you need to pay this tax, including detached houses, apartments, urban houses, open spaces, leased properties and so on.

But the premise is that you must be a Canadian citizen or permanent resident, and there is no self-occupied residence registered in your own name in other parts of the world.

In addition, new immigrants need to live in BC province for at least one year continuously, or have declared income tax twice in the past six years.

In addition, some cities in the province also have their own regulations to reduce or exempt the property transfer tax of new immigrants.

Doing a good survey before buying a house can not only reduce the probability of problems, but also save a lot of money.

2. Categories and standards of immigrants in Manitoba, Canada

Among many immigrant countries, Canada's beautiful environment and superior social welfare are real, and its education level is also top-notch. Canada has the best social welfare system in the world, and its free medical care system, family assistance, retirement pension, unemployment allowance, work injury assistance, social relief and milk money are all good social welfare systems.

Manitoba nomination (MPNP) category, Canada

International student category

Commercial investment category

Skilled workers (SWM) in the province

Overseas skilled workers (SWO)

Manitoba Business Investment Immigrants (BIS) were originally Manitoba Nominated Business Immigrants (MPNP-B).

Objective: To attract healthy and sustainable development funds and talents for Manitoba.

Features: low threshold, no need to pay a deposit to the government, fast.

Second, Manitoba, Canada immigration application conditions

1. English or French must reach CLB5 or NCLC5 or above (about IELTS listening, speaking, reading and writing 5).

2. High school education or above.

3. At least 3 years management experience in recent 5 years (both management and business owners can do it, and business owners can get more)

4. There is no age requirement (you can get extra points between 25 and 49 years old)

Note: Other reward items

Spouse's language level is above CLB5.

The applicant and his spouse have relatives who have lived in Manitoba for more than 1 year.

Before submitting the nomination, the child had been studying in a full-time school in Manitoba for more than six months.

/kloc-After the age of 0/7, the applicant or spouse has completed higher education in Manitoba with a valid visa 1 year or worked full-time in Manitoba for more than 6 months (employer's letter is required).

Three. Immigration investment standards in Manitoba, Canada

The applicant's personal net worth is at least 500,000 Canadian dollars.

Winnipeg invested at least 250,000 Canadian dollars.

Manetho Pakistan invested at least 6.5438+0.5 million Canadian dollars.

3. Life advantages of Canadian immigrants

1, eat

In Manitoba, Canada, there are all kinds of delicious food, local snacks and special gourmet snacks. Immigrants here can be said to be very comfortable and make people feel happy.

Step 2: ok

Buying a car in Manitoba, Canada is not only convenient, but also cost-effective. In addition, Canada's pavement system software is very good, and the management method is also very funny and humorous, which has been unimpeded for a long time.

Step 3 shop

Manetho, Canada is also known as a shopping paradise, with a wide variety of goods. There is also a fact that Manetho, Canada attaches great importance to reputation and quality, and there is nothing out of standard. It is legal to buy things here, even if there is a problem, you can return them immediately. If it is really completed, the consumer is the creator.

Step 4 play

Manitoba, Canada has a very good natural environment and can be said to be a very popular tourist attraction all year round. It is not only charming, but also attractive. I have to admit, every Sunday in Manetho is wonderful.

5. Health care

Canada's natural medical environment and medical level are among the best in the world, and its personal social security medical system is also very sound. Applicants who immigrate to Canada can enjoy all benefits, including local medical care, and hospitalization is basically completely free.

6. Child welfare

After immigrating to Manetho, Canada, both the applicant's former children and the birth of a new life after immigrating can enjoy Canada's full salary and benefits, so Canada is also called a paradise on earth for children.

It can be said that Canada's food, clothing, housing and transportation have different levels of characteristics, and it is precisely because of this characteristic that Canada is memorable.