Mortgages for Canadian Citizens

One of the more popular retirement plans for many people who live in Canada is to buy a winter home in one of the “sand states” like Florida, Nevada, Arizona or California.  As a result of the real estate crash, many of of the locations in these states have seen property values decline by as much as 60% from what they were just a few years ago – and as a result it becomes even more attractive for Canadian citizens to look at buying a winter home somewhere warm.

But can Canadian citizens get a mortgage here in the US when buying a home? Yes!

Generally speaking, if you are a Canadian citizen who is interested in purchasing a second home in the US, you will need to do a little bit of digging to actually find a lender who will lend to Canadian citizens.  Many lenders will not, but a small handful will.

Generally speaking however, here are some general guidelines that you can expect from a lender when borrowing money for a US property:

Mortgages For Canadian Citizens: 

• 2 Letters of Credit from Canada
• Loan amounts up to $3 Million
• Cash Out Allowed Up to $1,500,000
• Loans up to 65% of value
• Adjustable and Fixed Rate options available
• Full Documentation Required – Income/Assets
• Minimum Loan Amount $100,000
• Single Family Homes, Condominiums, Townhomes or Condotels Allowed
• Competitive Rates

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About Superior Mortgage Lending LLC

Superior Mortgage Lending LLC is a full service mortgage broker located in Las Vegas, Nevada. Our goal is to provide excellent service to you throughout the process. NMLS # 372130 Nevada License # 3582 California License # 603K964 Arizona License # 0119906 8867 W Flamingo Road STE 200 Las Vegas, NV 89147 (702)507-4170 / www.superiorml.com
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