"FSBO" or "buying foreclosures"
"Chicago, IL" or "Florida"
Views: 534
Canadians Needing American Mortgages
Canadians are looking to buy American real estate. The loonie is at parity with the dollar and American housing prices are down some 20% from 2005. That presents quite a bargain if a Canadian is looking for a vacation home in America.
How does a Canadian get a mortgage for American properties? Here is an example of the documentation American lenders look for when lending to Canadian citizens:
1- Identity Proof: Some lenders require a copy of your Canadian passport- many accept a Canadian driver's license.
2- Proof of Employment or Business Ownership: Most lenders seek a two year history. We perform a verification of employment with your employer or look for a copy of your business registration or incorporation paperwork.
3- The very best terms are extended to Canadians who can document income by furnishing a two year history of the T-1 General Form.
4- Assets need to be documented by a recent bank statement.
Related Posts
Will Bias Against Canadians Extend to the American Real Estate Market?
Uploading Image-
Flag content
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow.com, please let us know by completing the information above.
Close- Content Flagged
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Close- We're Sorry
- This service is temporarily unavailable. Please come back later and try again.
