How to obtain financing for Real Estate in the U.S. as a Canadian citizen

How to obtain financing for Real Estate in the U.S. as a Canadian citizen

How to obtain financing for Real Estate in the U.S. as a Canadian citizen.

RULES AND LIMITATIONS TO LOAN:

· Purchase or refinance with no cash out

· Purchase price up to $595,000 unless down payment is provided for difference

· Loan amount up to $417,000

· Minimum of 30% down payment

· 30 year fixed only, no temporary buy downs

· 2^nd home only Cannot own another house in the United States

· All documents must be in English

· Cannot have diplomatic immunity.

· Must be able to verify Canadian citizenship and proof they are allowed to be in the United States.

· Single family, condo/townhome unit property only (No duplexes/ multi-family units)

Employment Verification Process

2 paystubs,

2 years T-4’s (equivalent to our W-2)

2 years in same line of work

3 months bank statements.

If self employed or more than 25% of income commission or bonus need full tax returns for most current years

No social security number needed

Copy of Passport

Proof of house payment and taxes as this does not show up on credit reports often

Credit

We obtain a Canadian credit report.

Proof of 24 month history of credit

4 trade lines

For additional information and questions on investing in Arizona feel free to email or call us today!