Qualifying for Mortgage for duplex if it's in different province.

[Yves Bourdeau]

Let's say I want to buy a duplex in another province.

Would the mortgage agreement have some sort of clause asking for a guaranty that I'll be staying here at the same employment for a certain amount of time knowing that the investment property is in another province?

On the other hand, If I want to buy as an owner occupant of one of the units of this duplex which means I'll be moving there soon after buying the house. The bank knowing this, I'm sure they will be asking to secure an employment first and that brings me to my next question.  How long would I have to have an employment to qualify again to buy a house.  At the moment I'm eligible to borrow enough for the investment range I'm looking at.

Thank you.

[Jason Wray]

Yves,

When you buy an investment property you do not have to live in that area just show you can afford the mortgage.  When you buy a primary home you need to show how your going to either continue to work at the same company or if self employed continue to run the business.