Buying as a Non-Canadian Resident

A guide to buying Canadian residential real estate as a citizen or permanent resident of another country.

Looking for a home in Canada?

Canada has a lot going for it, there’s no doubt. It’s safe and secure, friendly and diverse, and full of breathtaking landscapes and inviting communities. It’s no surprise that people from around the world want to move here.

If you’re buying a home as a citizen of another country, you probably have a lot of questions about how the process works.

Find a home in Canada with Hub

Based in Vancouver, B.C., Canada, Nest Mortgage are experts in sourcing mortgages across Western Canada and beyond. We know the Greater Vancouver mortgage market like nobody else, and we specialize in helping non-Canadians find the mortgage financing they need.

Got questions? We are happy to connect. We’re friendly, multilingual, and ready when you are to help you find and finance the perfect home in Canada.

Foreign Buyers FAQ

Can I buy a home as a non-Canadian resident?

Generally speaking, yes you can. Non-Canadians are able to buy homes in Canada with few legal restrictions.
What languages do you speak at Hub?

In addition to English, our team can communicate in Korean, Mandarin, Cantonese, Spanish and more.

Once you fill out our online application, we’ll work through the approval process and find current rates. But we’ll continue to monitor the mortgage market as your home is being built. Then, around 120 days prior to your property being complete, we’ll lock down the best possible rate available.
Do I need to have income in Canada, or file Canadian income tax, to get a mortgage?

No. But you will need to show proof of income from your home country.
Does rental income count as income?

Usually not. You’ll need to show income from other sources, like your salary.
Is there a minimum down payment required?

Yes, to obtain a mortgage from a Canadian lender, there may be a minimum down payment for foreign buyers. U.S. residents are required to have 20 percent of the property’s purchase price. Residents from other countries may be required to pay 35 percent as a down payment, and the funds cannot be a gift.
When do I need to make my down payment?

Typically, Canadian lenders require your down payment to be made at least 30 days prior to your closing date. In some cases it may be up to 90 days.
What documents do I need to obtain a mortgage in Canada?

You will likely need to provide proof of income, a reference letter from your bank, several months of bank statements, and a credit check.
What are the taxes and fees non-residents should know about?

Some regions in Canada require those who are not Canadian citizens or permanent residents to pay additional taxes or fees. The Province of British Columbia, for example, has a 20 percent tax for foreign buyers upon the purchase of residential real estate. Some regions also charge a vacancy tax, if the home is not occupied a certain portion of the year.

These are on top of the standard fees for purchasing or owning a home in Canada, which typically include annual property taxes, agent fees, legal costs, and land transfer tax. If you’re buying a newly built home by pre-sale, you are required to pay GST or HST on the purchase price, depending on which region you’re buying in.

Don’t believe us? Check this out

Joe Harb

A pleasure to work with. They pre-approved my mortgage and checked in periodically to see how my house hunting was going. When I found the right place, Hub Mortgage Co. were quick with responses and provided information and advice wherever possible. They still continue to check in and see how things are going. Experts in the industry, you can rest easy using their services.

Sarah Richards

As a first time home buyer in the intimidating Vancouver market, I had a lot of questions and fears about the process. Hub Mortgage Co. were with me all the way, helping guide me through everything I was unsure about. They treated me like I was their #1 customer, and not just in the care and attention the paid. They also got me an amazing rate on my mortgage.

Gabby Still

Referred to us by a friend, Hub Mortgage Co. were able to help us out with our mortgage renewal. It being our first time renewing, we had some issues and also a ton of questions that Ray and Merissa took care of without hesitation. We would recommend Ray and his team to anyone who’s looking for a mortgage broker.