What are the new policies of Toronto real estate in Canada?

First of all, we should understand the basic definition of non-Canadian residents: non-Canadian residents (foreigners) refer to those who have no permanent resident status or only hold student visas or work visas. For these people, the Bank of Canada can provide loans of 5%-65%. There are some exceptions. Some banks need the applicant's work certificate and payroll in their country to approve loans. Some banks don't need payrolls, but the loan amount will be reduced accordingly. This is also a concrete analysis of the specific situation. Therefore, the amount of loans that Canadian banks can provide to these non-Canadians actually depends on what documents the applicants can provide. Except for foreigners with work visas, income certificates or good credit, foreign buyers pay a higher down payment ratio than domestic residents. As for the down payment, due to the different requirements of banks and financial institutions, with the tightening of Canada's loan policy, generally speaking, banks will require foreigners to pay 35%-5% down payment. There is also to remind people who are interested in buying a house that when applying for a loan, most banks will require that your down payment be kept in a Canadian bank for 3 days. If you can, it's best to send the down payment to Canada before applying, which will be more beneficial for you to apply for a loan.