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Canadian Expats

Canadian Expats
As canadian expats get a mortgage for properties in Canada. I am independent and my spouse has f / t work?

I am not for resisent tax purposes and would like ot keep it that way, have lived outside Canada for almost 7 years, my spouse is not in Canada, we want to purchase one (a few) Rental properties in Canada.

It seems that it is advisable to go through financial canadian lender: When foreigners buy property in Canada, we recommend obtaining Mortgage through a Canadian bank for two very important reasons: 1 First, because our agency is in daily communication with some of the largest financial institutions in Canada and can therefore help you get the credit that you are looking for (not necessarily you) get their own devices. 2. Second, because in case of Rental property, you will receive your rental income in euros. In other words, it is advisable to have a bank account at the bank a mortgage in which your rental income and cost of your mortgage payments obtained by avoiding transfer and currency exchange fees to open. Lenders in Canada are anxious to lend, and go to extraordinary efforts, to get your business. Depending on your financial circumstances, non-residents to around 65% of the purchase price will be offered. Canadian citizens and landed immigrants benefit will be financed up to 100%. An issue for most buyers is the affordability of the mortgage. A quick way to calculate how much you can afford it, is Using the gross debt-service formula (GDS). Most financial institutions in Canada will require that the principal sum, interest and tax (PIT) on your mortgage more than 30% of the gross – income. Increasingly, financial institutions, energy factor in the PIT formula, moving the rule of thumb GDS 30 or 32%.

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