Real Estate in Canada is regulated provincially, so this guide is tailored to foreign buyers buying in Toronto, and surrounding areas. The rules around foreigners buying real estate in Canada aren’t related to citizenship, so there’s no restriction on how much property or the type of property you can purchase. However, we have a foreign buyer’s tax on property brought by foreign buyers. The...
In late 2017, the federal government introduced a Mortgage Stress Test for anyone applying for or renewing a home loan. Even if you have amazing credit and a 20% down payment, you still must go through the stress test. Starting June 1, Canadian homebuyers will face tougher mortgage stress test rules that will decrease the buying power of most borrowers. Here’s what you should know before...