Mortgagenomics Canada

 When it comes to mortgages for newcomers to Canada, the qualification criteria remains similar to what Canadians can expect but with the following exceptions:Minimum down payment thresholds vary anywhere from 5% to 35% depending on ones residence status:Permanent Resident with standard income confirmation: 5-10% minimum down paymentPermanent Resident with no income, but high net worth: 35% minimum down paymentTemporary resident (work permit, students): 10% minimum down paymentNon-Resident (Canadian Citizens, Permanent Residents and Foreign Residents that do not reside in Canada): 35% minimum down paymentNewcomers must also have arrived in Canada within the following timeframes to be eligible for newcomer mortgage qualification, otherwise, they will be subject to standard Canadian qualification guidelines:Permanent Resident / Landed Immigrant: eligible within a 5 year period since arrival in CanadaTemporary Resident: eligible within a 2 year period since arrival in Canada and at least 3 month job tenureA