Article provided by: Imac Mortgages IncWith all the loan products available to the average consumer today, it can be quite confounding to know which mortgage to choose. More and more Canadians are aware of the good sense of hiring mortgage brokers in New Westminster, Richmond, Surrey and Vancouver. To know more, call on 604.320.0705
Are you planning to move to British Columbia? As a newcomer to Canada, you may find it less than easy to obtain a mortgage on your own. Most lenders are reluctant to offer someone with no Canadian credit history as good a deal as they would offer to Canadian citizens who have clean credit histories. You will probably get a better deal if you can provide references from a reputable lender showing that you have been a reliable mortgage customer in the past. It would certainly be in your best interest to work with mortgage brokers in New Westminster or wherever in Canada you choose to settle. The weaker your link to Canada, the more of your own money will be required as a deposit. If you are in Canada on a work permit, it would behoove you to apply for permanent residency prior to meeting with mortgage brokers in New Westminster.
As a rule of thumb, a standard Canadian mortgage requires the buyer to fund at least 25% of the house purchase. In that case, the mortgage covers the other 75%. Many lenders require new arrivals to Canada to fund 35% with their own funds, with the bank providing the remaining 65% as a mortgage. We cannot promise to get you into a mortgage until we meet with you and understand your unique circumstances. We can tell you that your chance of favourable outcome increases when you work with experienced mortgage brokers in New Westminster or anywhere else. We are IMAC Mortgages Inc. Call us on 604.320.0705 Mortgage Brokers New Westminister