Also, foreign buyers are eligible to receive a rebate for the tax upon becoming a Canadian citizen - which is the goal for many of them to begin with.

Hey @Ronaldo Reyes — Welcome to BiggerPockets.Glad to see another fellow Canadian in the forums. 

I dislike pretensious names that want to imply that you're a big company Global Investments LLC. 

I'm Canadian and really happy here, so no worries.

Hey Amber,This is Lamar George from Global Ras Enterprises LLC and I just ran across your post.

I'm Canadian so heavily rely on this company to help me and my partner source and manage our portfolio. 

In that case, a global cash flow analysis will be conducted by the underwriters to determine your strength as a guarantor.

I ended up owning over 200 of these homes because my west coast borrowers could not refi ..and walked. they lost all their money and I had a mess on my hands that took me a few years to clean up.. not pretty.that's the risk in this model is refi does not come through well.as lending has thawed out along with global warming its back to business as usual... but do be sure to have your take out assured.. most HML will demand it..

I know the numbers are very small compared to Canadian cities, but that is how I do it.

@Pat L.I missed the 19%, but our first mortgage was at 16.8 - a tough five years, but is is what got me looking into variable rate mortgages.There was a historical study of mortgage rates in the Canadian market from post WWII until the late 1990s which demonstrated that if you took any 25-year period [the most common amortization in Canada] and compared 5-year term variable and fixed rate mortgages within the 5 decades of the study the borrower always came out ahead going with the variable rate.Now, with 15 & 30yr terms available in the U.S., I expect there would be times when locking into a fixed-rate long-term mortgage would have been advantageous, but I would expect there would have been as many or more times when it would have not been advantageous.