Quote:
Originally Posted by MillerTime GFG
The banks I know that are doing it are TD, Scotia, and National Bank. NB no longer does it through the broker channel (due to some fraud), but their requirements for qualifying were 35% down, and 12 month's PIT in a Canadian account.
|
You basically need 35% down plus a year of payments (plus taxes) in the bank? I guess from the banks perspective they can always seize the property on default, and they probably get to charge a higher than usual interest rate.