Hi, I’m currently in New England and started thinking of getting a single family house in Canada but got stumped when looking for financing. I currently do not own any properties anywhere.
Are there banks that provide mortgages for Canada property if I’m based in the US? Should I be approaching US banks, or Canada banks, or banks with presence in both countries (HSBC, Citi, TD)?
Any advice much appreciated!
Good Question. But, why do you not talk to a mortgage broker in Canada since the lenders in Canada will be able to hold lien on the property located in Canada. The fact that you earn income in USA makes no difference so long as you can convince the lender you have ability to pay and the collateral (the purchase property in Canada) is strong.
Find a lender/bank/agent in Canada and give him call.
Which area of Canada is your purchase property located in?
Thanks, I’m looking to get one in the Montreal region, some houses I’m looking at is a reasonable 4 hours drive from where I’m currently staying at in MA.
Wonder if there’s any suggestions for a Canadian mortgage broker? None of my friends have experience with Canada.
Why do not not search for brokers in Montreal and just call them. Most of them will be happy to talk to you and get your business.