Mortgages for Non-Permanent Residents
You’re in Canada on a work permit but don’t have permanent residency yet. Can you buy a home? Yes — with the right approach and lender. Here’s what you need to know.
Work Permit Requirements
Most lenders want to see:
- Valid work permit: Must extend beyond your mortgage term (or show renewal history)
- Canadian employment: Working for a Canadian employer
- Canadian income: Verifiable with pay stubs, T4s, or letter of employment
- Minimum time in Canada: Some lenders want 6-12 months in-country
Down Payment Considerations
Non-permanent residents may face higher down payment requirements with some lenders. Typical ranges:
Student Permits
Students without work income face more challenges, but options exist with:
- Co-signer with income: Parent or family member in Canada
- Large down payment: 35%+ can open doors
- Private lenders: Higher rates but more flexible
💡 Plan Ahead
Keep your work permit current. Lenders may require your permit to extend 1-2 years beyond your mortgage start date. If renewal is pending, some lenders will wait for approval; others won’t.
Elevation Mortgage
Brokerage: Mortgage Connection · Licensed in Alberta and British Columbia
Julie & Andy Jeffery — independent mortgage brokers serving Calgary, Nelson BC,
and clients across Alberta and British Columbia.
© 2026 Elevation Mortgage · Independent Mortgage Brokers · Serving Alberta & BC