Financing in New York>Question Details

Alain, Home Buyer in Montreal, Canada

I am a Canadian Citizen how can I get a mortgage to buy a property in New York State ?

Asked by Alain, Montreal, Canada Sun Jan 27, 2008

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Answers

7
You will not have any luck using a Broker. I used to work for the largest broker operation in the US, and I tried to get funding for a Canadian National in 2009, and they had no lending options.

However, I currently work at the Bank of Montreal, and we are one of the only (if not THE ONLY) bank that has a program for Canadian nationals to get US mortgage financing. It is our "Canadian Gateway" loan. You are going to need 25% down, have scores over 680 (we pull your Canadian credit reports) and have verified employment, and you are good to go!

Contact me at Jonathan.Saxon@harrisbank.com or call me at 312-731-2254 for complete information.

Good luck everyone!
1 vote Thank Flag Link Sun Apr 8, 2012
There are many mortgage programs that allow foreign nationals purchase a property in the US. These programs usually require a significant down payment. I can assist you in obtaining mortgage financing for a New York Property. Please contact me at cgrushin@gateway-funding.com so we can discuss your options.
1 vote Thank Flag Link Mon Feb 4, 2008
Dear Alain,
Please contact Betty Santos at Rand Mortgage. They work with alot of different banks and programs and will surely be able to find one to fit your needs. Contact her at betty.santos@randmortgage.com and be sure to tell her I sent you. She is a lovely gal and will gladly help you.
Best Wishes,
Laura Rusiecki
laura.rusiecki@prudentialrand.com
0 votes Thank Flag Link Fri Oct 17, 2008
yes we have program for foreign national but you need down payment around 35% contact me at 516-739-2243
Web Reference: http://www.call4loan.net
0 votes Thank Flag Link Fri Apr 4, 2008
Alain,
Contact Jesse Lena at Saratoga Capital Finance. Jesse is the owner-broker and is truly committed to helping people find their dreams. He can be contacted by calling 1-888-985-7272 or email jesse@saratogacapitalusa.com

Good luck,
The "Eckler Team"
Century 21 Almar and Associates
Venice, Fl 34285
941-408-5363
ecklerteam@comcast.net
0 votes Thank Flag Link Thu Apr 3, 2008
As a Canadian Citizen it will depend on what you plan to use the property for. If it is a vacation home you should not have much difficulty as long as you have the income and credit to support the loan. A mortgage for an investment property will be very difficult. Any banks I know of do not have programs for foreign investors, you will have to try a broker.
Web Reference: http://www.wnyhomevoice.com
0 votes Thank Flag Link Thu Apr 3, 2008
BEST ANSWER
In New York I don't know since I don't lend there but in states I lend in, Yes, I was just pricing a loan like this with one of my lenders and it was pretty simple with money down. Here is what she said. I have not used her company before so please use as a guide and not fact as of yet until I complete one with them.
Purchase with 30% down, we run a quick qual with application and passport. No income verification or international credit, no verification of employment or assets.
My particular scenario was for purchase price of $250,000 - $300,000
The program was a pick a payment with a 30 year fixed rate program. It had a P&I payment an interest only payment and a minimum payment. The P&I and I/O were off the same rate and the minimum was at 3.25%.
I hope this helps.
0 votes Thank Flag Link Thu Apr 3, 2008
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