As the government policy tightening for equity deals, it is getting challenging to obtain
an approval for equity take-out requests today. However, RBC remains very competitive
in terms of providing financing to those who have high net worth properties or having
over 35% downpayment to purchase their new properties. If clients are either new
immigrants or non-residents, RBC also has excellent equity programs to serve those
clients in need.
For refinancing up to 65% of the property value, clients may need to provide either
employment income or liquid investments, either in Canada or overseas, to illustrate
the repayment ability. For those who report employment income earned in Canada in
particular, we may be able to provide financing up to 80% of the property value.
For new immigrants, we can lend up to 75% of the purchase price, providing clients
can show sufficient liquid investment to support monthly mortgage payments. For more
details, please contact Eric Huang at 604-505-6665 for a free case consultation.
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