FINANCING
Obtaining suitable financing for non-U.S. residents purchasing a property in the U.S. can be very difficult and pose a stumbling block for most. Often lenders will require a significant down payment (greater than 40%) and will only finance one property. Even these lenders are difficult to find. The easiest route is to get an equity line on your Canadian home, but not everyone can do that, and that certainly won’t work if you want to buy multiple properties.
We have overcome that obstacle for you. We have personally met with some lenders in the U.S. (both private and public) who are willing to fund mortgages for our clients (pending meeting income criteria) up to 90% of the value of the home and interest rates ranging from 4 to 7%. The lenders minimum mortgage amount ranges from $50,000 to $100,000 however they are willing to fund multiple properties.
Getting mortgage pre-approval is highly recommended. The pre-approval process may take a bit more time than the pre-approval process you may experience in Canada, so give us a call to get started.
Toll Free: 1-855-400-4139