- Joined
- May 8, 2012
- Messages
- 10
Hi everyone,
I have a question about investment property financing when filing as a non resident for tax purposes in Canada. I work overseas in Germany and all of my "job" income is coming from out of country. So to avoid high tax hits from the CRA each year I have thought about the idea of filing as a non resident. Have spoken with my mortgage broker about this and she says there are 3 lenders she knows of that will lend to non residents however they all require 35% down to purchase investment property. Is there any way around this? Are there any specific lenders who deal with non residents and would consider lending in a more conventional 20% down scenario? Any other ideas on how to get around this? I want to keep buying more properties but it makes things so much more difficult when a minimum of 35% down is required.
Any input is greatly appreciated. Thank you!!!
I have a question about investment property financing when filing as a non resident for tax purposes in Canada. I work overseas in Germany and all of my "job" income is coming from out of country. So to avoid high tax hits from the CRA each year I have thought about the idea of filing as a non resident. Have spoken with my mortgage broker about this and she says there are 3 lenders she knows of that will lend to non residents however they all require 35% down to purchase investment property. Is there any way around this? Are there any specific lenders who deal with non residents and would consider lending in a more conventional 20% down scenario? Any other ideas on how to get around this? I want to keep buying more properties but it makes things so much more difficult when a minimum of 35% down is required.
Any input is greatly appreciated. Thank you!!!