Moving to Canada...

[Justin]

I think I am going to move my family to Canada. I have been considering it for some time and I am ready to do it. I am thinking Calgary (I love the mountians) but, I have a few questions. I am currently in the mortgage business and I have no idea how the mortgage process works up there. Also, being in the mortgage industry, I deal with peoples credit a lot and I realized that credit, being based on your social security number, seems to be an American thing. I am sure there is a Canadian equivalent but, I am not sure what that is. Does the credit transfer over if I want to become a citizen? Has anyone else here done this, going from America to Canada? How hard is it to become a citizen? What are the benefits/drawbacks of this decision? Is this something I should even really consider doing? I just need a little guidance here...

[primesuspect]

Well, the most important thing in Canada is your "BR" - Your "Beer Rating" ... it's an index of your Hockey Rating and your Moose Rating.....

Also, knowing how to Curl helps.....

[TheSmJ]

Also, be sure to get your "Ehs" and "aboots" down pat.

[Xander]

I think I am going to move my family to Canada. Is this something I should even really consider doing?

:shakehead :eek:

[keto]

I work in the credit industry in Canada - in fact, 3 hours drive north of Calgary.

The banking system is very different. There are 5 major chartered banks that do the lion's share of the lending, both personal and commercial, right across the country. Their main competition is regional credit unions, the only exception I know of being the Alberta Treasury Branch which has offices across Alberta but has strong government ties.

Mortgage brokerage is a 'fringe' business for high risk customers willing to spend higher rates than what the banks will offer. There is some, but very little, mortgage business brokered to the major banks and most of that would be commercial. There are no major residential mortgage only companies like you have in the states - they exist but nowhere near the scale.

We also have a 9 digit personal identification number, called the Social Insurance Number. It's formatted XXX-XXX-XXX and the first 3 numbers tell you a) where and b) roughly when you were born, with a number starting with (I think) 4 being an immigrant. We use the same credit bureaux (Trans Union, etc) that you do and their databases are linked, sort of. I can't call up an American credit report unless I'm paying extra for that kind of access. Generally speaking, even if you have good credit in the States, you'd be starting fresh in Canada.

Getting resident status in our country is at least as hard for an American as it is for a Canadian going into the USA - that is to say VERY hard. Unless you have a specialized education that qualifies you for a job that nobody here either a) has training for or b) is willing to do, your chances are minimal. We accept immigrants from just about everywhere but the States, it seems. Canada has a very high immigrant population. Don't ask me to explain all the 'whys' and such, I really don't have a full grasp of it myself.

There are many more factors. Our political system is different, with socialist leanings (no, it's not a totally socialist state). Our taxes are higher, though such things as medical care are paid for 100% by the government for everyone (not including drugs, dental, vision care). Alberta is a minor exception, we pay quarterly health care premiums - but many employers (like mine) cover it. We are not the economic juggernaut that you are, though we are resource rich.

Anything else specific you want to know, I will do my best to provide you with info.

[primesuspect]

:shakehead :eek:

Why is this a bad thing? People emigrate to other countries all the time. Would you shake your head at a Canadian who wants American citizenship?

[Xander]

I'm just kidding guys.

*Finds nearest rock and hides under it.*

[TBonZ]

Well, the most important thing in Canada is your "BR" - Your "Beer Rating" ... it's an index of your Hockey Rating and your Moose Rating.....

Also, knowing how to Curl helps.....

I have never in my life heard of this beer rating, lol, and just what in God's name is a moose rating? As for curling, that sport is probably enjoyed by 4% of our population.

I love an Americans take on Canadian life and I'll say one thing, it's always been very consistent. :p

BTW - Welcome to Canada Justin if you come. I don't know Alberta's rules as they are different from province to province so I have no advice.

[Guyute]

Glad to have you, if you decide to come!

I send greetings to you from Glorious Nova Scotia. Good luck!

[Lincoln]

I thought this was a "omg bush is teh suck i quit the US" thread ;D Good luck sir :)

[Xander]

I wish you all the best luck and may God be with you.

[KingFish]

I thought this was a "omg bush is teh suck i quit the US" thread ;D Good luck sir :)

Me too

[Justin]

I appreciate all of the responses. The US is great and all but after having lived here all my life, I think I am ready to try something else. People say it is the greatest country evar... I don't know. I have nothing else to compare it against. When I look at the raw data and the family that I have in Canada, it just make sense for the aspiration that I have for my family to make the move up north. No, this is not a "Bush is teh suck..." thread, personally, I think ther are pluses and minuses to any given administration but, I just have these great images in my head that I see unfolding somewhere that is not here. Plus, I haven't done my spontanious deed for the year yet. Stay tuned anyone that is interested, I will keep any and all realavent info for anyone else planning the move posted right here. :thumbsup:

[Thrax]

I thought this was a "omg bush is teh suck i quit the US" thread ;D Good luck sir :)

Me too.. I had my finger on the "WTF? Conservative propaganda time!" button. ;D

[maxanon]

Alberta is the best place to go if you don't want that tax shock that most americans have when they realise the government uses us that their bank account.

[Dexter]

Keto's explanation of the banking system was very good (as it should be, with first hand knowledge.) I wanted to add that there are also some private credit companies that do mortgages as well. But as Keto said, there are the major banks, some smaller credit unions, and then not much else. That is a major difference from here to the US, where you have lots of regional banks at the city or state level, we have less options in that regard. The banks that we do have are mostly national, and account for probably 85% of the banking business in Canada. Some of the newer players are the international banking chains such as HSBC and ING, who are keen on taking a bigger chunk of the business and approach things a little bot more open-mindedly than the domestic giants. I'd recommend you look into those banks, as they might be more open to sponsoring an immigrant specialist.

And Keto, yes, a "4" at the start of a SIN identifies an immigrant, my wife's starts with a 4. She is an American immigrant, but she has lived here longer than she lived there.

Alberta and BC have the hottest economies right now, and both have great mountains, though in Alberta you really do need to be in Calgary to be in a major centre and within sight of them. In BC, it's mountains everywhere, I can see three lovely mountains from my office window right now, and I drive past several as I make way along Burrard Inlet into work near downtown.

Canada has a slightly higher income tax than the US, but you do get more services for that, and there are some good exemptions available, as well as some good family benefits. Having any more kids? A woman who has worked at least 6 months straight is entitled to 50 weeks of paid maternity leave, at 66% of her wages. That is unheard of in the US, unless you work for a very generous company who does it for you.

We do have a national sales tax, the GST, at 7% on most goods and services excpet certain neccessities like grocery staples and medical items. Most provinces have a provincial sale tax as well, which varies from 5 to 9%. The exception is in Alberta, the only province with no provincial sales tax. Heck, they just elmininated their debt. Almost makes me wish I was still living there...

If you have any more questions, feel free to PM me.

Dexter...

[MediaMan]

First piece of advice is to stop thinking in American dollars and trying to equate where you used to live to where you plan to live. After a while a buck is a buck is a buck.

You'll probably find the cost of housing more expensive depending on where you are living now. If you are in rural America where a 2500 square foot home costs $150,000 USD then get your shock absorbers on. It's much more in the bigger cities.

Calgary is a good city. I liked it when I was there...more so than Edmonton.

Mortgage approval is based on a lot of information. You'll need to provide tax return statements, a paystub or 2 from your last employer, a letter from your to be current employer...a bank statement verifying you have the downpayment amount at hand...

My advice is to deal with a mortgage broker rather than the bank. Mortage brokers can get you a better rate. You'll get a document that pre-approves you for a set amount. The interest rate that document has will not increase even if the lending rates do. That usually stays in effect for 90-120 days. If the rate goes down...then so does the rate on the document but it won't increase beyond its guaranteed level.

I'd recommend coming to Calgary and renting a house for 3-6 months and get used to the area before you buy.

If you have more specific questions...then ask.


And yes...it can get rather nippy in Calgary but with the Chinooks (warm winds that blow off the mountains) the weather can change on a dime in the winter. -20 C at 8AM...+10 in the afternoon then back into the deep freeze.

There are only two seasons in Calgary...winter and summer. Fall is "fell" and spring is "sprung". Very short mid seasons. It's pretty good weather until October...usually around Halloween it goes into the deep freeze.