Usually Canadian banks and lenders require non-residents have a minimum 35% down payment (in other words, 35% of the cost of the home paid for in cash, with a maximum of 65% of the home’s value provided as a mortgage).
Non-residents are eligible for the same interest rates as Canadians, provided they meet the mortgage eligibility criteria.
If you live in a country that does not have a tax treaty with Canada, you will only be eligible for a fixed-rate interest rate.
To qualify for a mortgage for a property in Canada, non-residents will generally require:
A 35% downpayment (not from gifted funds). It may vary from lender to lender.
A reference letter from their bank
An employment letter verifying income in Canadian or US dollars
