BC Provincial Nominee & mortgage qualification | 2bed rent is like $680k mortgage | New Zealand crushes real estate NIMBYs | BabyBoomers not for sale

Mortgagenomics Canada

Can BC Provincial Nominees qualify for a mortgage?

Yes! A BC Provincial Nominee is eligible to qualify for a mortgage in Canada. Here are the key mortgage qualification criteria to be aware of when qualifying for a mortgage as a BC Provincial Nominee:

• you can purchase a property with as little as 5% down payment, but only for purchases under $1M
• for purchases that are $1M or greater the down payment increases to 20% and potentially higher depending on how large your purchase price is (down payment can reach up to 35% for purchases that exceed $2.5M)
• must have relocated to Canada within the past 2 to 5 years
• must be employed for a minimum of 3 months
• full income confirmation is required (recent pay stub and employment letter)
• a 90 day history of your down payment funds are required (i.e. bank statements, investment statements, etc). If you are unable to provide a 90 day history, then prepare to explain where the funds were derived from along with applicable documentation to verify so (i.e. from sale of property, estate settlement, etc).

Have you recently moved to, or are planning to relocate to Canada? If so, Click Here to begin your mortgage pre-approval process or call Marko at 604-800-9593.

Contact Marko, he's a Mortgage Broker!

604-800-9593 direct Vancouver

403-606-3751 direct Calgary

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