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Noble 2018 / 11 /14

BUYING YOUR FIRST HOUSE IN CANADA

Buying a house is an exciting and yet challenging experience in Canada.

If you are not planning to pay for your house in cash, you need to first assess your capability to leverage. Your ability to leverage as a newcomer in Canada will depend on factors such as your income, your world-wide net worth and your liabilities. Most first-time homebuyers in Canada rely on traditional lenders such as banks to finance their first purchase (i.e. to get a mortgage).

Getting a mortgage from traditional lenders for newcomers will require a down payment of 35% of the purchase price.

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