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Today: 20.01.2018 - 03:28:26
   Canada Mortgage Hub Discussion Board -> Mortgage Montreal -> How does US Citizen get Canadian Mortgage to build a home?
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psdor

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How does US Citizen get Canadian Mortgage to build a home?
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Business mortgage
Post # 1.

reg_8

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"Canadian Mortgage" (CMHC) does not build homes. They are a guaranty corporation that backs higher-risk mortgages, such as those transactions with 10% down paymnet or less.CMHC will not build a home, nor will they back mortgages taken out by out-of-country home owners: it is intended as social security benefit for Canadian citizens only.
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praga_mgp

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Get your citizenship and then you'll have no problems finding a bank. Try Scotia, TD, BMO, RBC, or CIBC. Scotia, TD, and Bank of Montreal (BMO) are likely to be of most help for you.
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Canadian mortgage experts
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