New comers to Canada scheme?

[Phillip Johnson]

Hi guys,

I've recently stumbled across a newcomers to Canada scheme from a company called Genworth, has anyone had previous experience with this?

Apparently I can get a duplex (max) as long as I reside in one side for a certain period, for 2.4% at a 25yr 95%LTV... Too good to be true?

[Roy N.]

@Phillip Johnson

There are private lenders.  But accessing them {directly} in parts of the Maritimes may be a test.  I moved here in the late 1970s and some still consider me to be "from away".

There are mortgage brokers who will match borrowers with private lenders (for a small piece of flesh), so you can always go that route.

As with any business, once you scratch out a bit of a record, money will not be as difficult to find.