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Are you thinking of working, traveling, or studying in Canada?

 

Moliere is the best immigration consultant, providing experienced, fast, and reliable Canadian immigration services to skilled professionals worldwide. We provide 24/7 access to our valued clients to experienced Canadian immigration consultants. Our Advisors are supporting us with their expert knowledge of immigration. Book an appointment with our expert Immigration Counselors to know the best suitable and possible categories of green card, visa, non-permanent resident, and permanent resident. Then we check your eligibility for various categories and then suggest you the best option which is available.

 

The Difference between a non-permanent and permanent resident Alien.

 

There are mainly two types of applicants: Non-permanent residents and permanent residents. If you are a Non-permanent resident or permanent resident alien, then different mortgage options are available. Non-Permanent Residents have the chance of getting a “temporary visa mortgage”.

 

Non-permanent resident aliens demonstrate that they are intended to live in and use the home they are buying as their principal residence. They must present their employment authorization document as their social security number. They can present a special visa provided to the employers as proof of lawful status if the borrower does not have an EAD. Acceptable visas include Non-resident alien H1B and other H series visas. The work eligibility documentation must demonstrate the capacity of borrowers to live and work for at least three years. Depending upon the case and situation, they may request to facilitate additional paperwork to approve the mortgage.

 

Permanent resident aliens have a green card as well as a social security number from Canadian Citizenship and Immigration which equates to permanent residency. Permanent resident aliens can more easily get a mortgage in Canada. As they need to present a valid green card and social security number only. The qualification process is the same as for Canadian citizens.

 

How is a non-permanent resident aliens taxed? 

 

They must file a tax return if the employee is any of the following:

 

• A non-permanent resident has worked for business or trade in Canada during the year.

• A non-permanent resident has Canadian- source income but hasn't worked for a trade or business.

• Filling the return of a non-resident alien for which a representative is responsible.

• A trustee of a   non-permanent resident alien.

• A domestic trustee or resident is in charge of the care of non-resident aliens or property owned by a non-resident alien  h1b.

 

Non-permanent resident alien Qualifying for a mortgage 

 

If a non-permanent resident alien plans to live in the home they are buying, they must qualify for a visa mortgage. They use their home as their main residence.  The borrowers need to provide a valid social security number and an employment authorization document known as a work permit. A social security card cannot be used to prove eligibility to work. Many of the non-permanent residents have no EAD but have a special visa obtained by a sponsoring employee. These borrowers are eligible for Freddie Mac mortgages, FHA, and Fannie Mae. Lenders can accept the types of visas as proof of their legal residency when applying for a mortgage:

• Non-resident alien h1b and other H series visas such as H -1C, H-2

• E series

• G series

• L series

• O series

• NATO series 

• Canadian NAFTA series

 

The work eligibility document must indicate the ability of applicants to live and work in Canada for at least three years. The lenders will request the documents based on their guidelines and the situation of borrowers. 

 

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