A non-owner-occupied rental property in Canada generally requires at least 20% down, and lenders qualify you using only part of the rent — through an offset or an add-back formula that varies by lender and insurer. That gap between the rent a property actually collects and the rent a lender will count is where most […]

New Canadians can qualify for a mortgage in Canada without a long local credit history — lenders and insurers run dedicated newcomer programs that substitute other proof: immigration status and work authorization, employment and income confirmation, international credit references or documented rent and bill payments, and a verified down payment. The file is built on […]

An older Edmonton home can pass a buyer’s inspection and still stall at funding if an insurer will not cover its wiring, plumbing, roof or heating on normal terms — because a mortgage requires home insurance in place at closing. The lender-and-insurer questions are predictable, so ask them during your condition period, not in closing […]