New Immigrants & Non-Residents
Residential Mortgage Program
*Owner occupied - residential mortgage.
75% Conventional
Lesser of 75% of appraised market value or purchase price.
G.D.S. / T.D.S. - 32% / 37% based on confirmed income.
65% Equity Program
Lesser of 65% of appraised market value or purchase price.
G.D.S. / T.D.S. - 32% / 37% based on declared income
Or - no debt servicing requirement, supported by one years mortgage payments "deposited" and maintained at all times during the mortgage term.
50% Equity Program
Lesser of 50% of appraised market value or purchase price.
G.D.S. / T.D.S. - no debt servicing requirement (G.D.S. & T.D.S. may be calculated using estimated income)
* NEW IMMIGRANTS (those who have officially landed in Canada less than two years)
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