Quote:
Originally posted by detoxed
Must be weird Canadian shit...
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Credit is weird in Canada...for instance...in the states your dog could get a credit card...in Canada, unless you get one when you are in University...it is harder than hell.
All mortgages in Canada with less than 25% down require the Canadian Mortgage insurace (not exactly sure on the exact name). If they turn you down...and they often do if you are self employed you can't get a mortgage because that insurance is required with less than 25% down.
When we got this house we were self-employed...they turned us down so we had to come up with 25% down in order to get a bank to lend us the money without their approval