Financing in Phoenix>Question Details

shenjonah, Home Buyer in Phoenix, AZ

I am a Canadian investor. Would I be able to get a mortgage?

Asked by shenjonah, Phoenix, AZ Wed Sep 5, 2012

I am buying investments ppts in AZ with cash..... would love to get some leverage if there are mortgages available.

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Answers

22
I just bought a home in Vistancia (Blackstone) for Canadian clients, aside from the financing we were able to help them through other areas where there were differences, insurance, HOAs etc. Its amazing how overwhelming it can feel purchasing when you are from overseas. I can remember buying my first home 15 years ago when I was fresh in town from the UK. Once you get your finances together, if you still need an agent I'd be glad to help. Good luck!
1 vote Thank Flag Link Thu Sep 13, 2012
I can assist. Call me today at 480-783-6798 or e-mail me at Manuel.Amaya@BBVACompass.com .

We specialize in Canadian and Foriegn Investors.
0 votes Thank Flag Link Fri Sep 14, 2012
You most certainly should be able to. Justin Haines with Nova Home Loans can answer any specifics you may have. Give him a call 623-687-7778 :)
0 votes Thank Flag Link Wed Sep 12, 2012
While not all American Lenders with provide financing for a Canadian buyer there are several that will. In Green Valley, I have worked with a number of Canadian Buyers and in cases whether they needed financing was always able to find a lender for them. Give me a call if I can be of any help to you.
0 votes Thank Flag Link Wed Sep 12, 2012
We have mortgages available for foreign nationals. Call me and we can get started. 623-340-0934 or you can email me at korene@openmtg.com
0 votes Thank Flag Link Wed Sep 12, 2012
We make loans to Canadian investors. Call me at 623-340-0934 or email korene@openmtg.com
0 votes Thank Flag Link Sat Sep 8, 2012
Yes, all Canadian investors can get finance in one form or another in their real estate investment in the U.S.A.
0 votes Thank Flag Link Thu Sep 6, 2012
I am also a Canadian investor specializing in multifamily rental income properties in Phoenix, AZ and am delighted to assist you in getting mortgage or private funding or even hard money lending if you wish.

Good luck!
0 votes Thank Flag Link Thu Sep 6, 2012
Yes, try to contact a mortgage broker because they have access to private investor that they will be happy to lend you money for a purchase of a home with minimum 30 to 50 percent down.

Good Luck,

Maria Cipollone
0 votes Thank Flag Link Thu Sep 6, 2012
Yes, it is definitely possible, some banks will do it, especially the Canadian banks which have a presence here: TD Ameritrade and RBC are two; also BBVA Compass, which is Spanish-owned, has some programs for foreigners. Owner-financed is sometimes available, but consider that many of the owners are either banks themselves trying to divest some real estate assets, or can still be owners in some financial difficulty which doesn't give them the flexibility to offer owner financing.

Best of luck. If I can help you in any way, please call or send me an email.

Ann Griffin, Realtor, ABR, SRES, E-PRO
Coldwell Banker Trails and Paths
2913 N. Power Rd., Suite 101
Mesa, AZ 85207

anngmesa@gmail.com
480-789-9584
0 votes Thank Flag Link Thu Sep 6, 2012
Yes, there are several mortgage companies that would help you out, depending on the downpayment you want to make. I represent several Canadian and Australian investors and can help you get started.
0 votes Thank Flag Link Wed Sep 5, 2012
I do work a couple of different lenders that will offer financing for Canadians. Feel free to contact me directly via my Trulia profile or online at http://www.jenniemillerrealtor.com.
0 votes Thank Flag Link Wed Sep 5, 2012
Shenjonah

There are a number of companies that will give loans to Canadian buyers. Each will have their own stipulations. Some will only allow a second home and others will allow an investment home. Down payments will vary, but most will have a 30 - 50%+ down payment requirement.

If you need assistance please don't hesitate to give us a call.

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133

*** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ***

Search the official active FlexMLS like a Realtor for FREE through our website:
http://www.CunninghamHomesAZ.com
0 votes Thank Flag Link Wed Sep 5, 2012
Shenjonah:

Canadian investors are our entire business. Visit us at http://www.crossborderrealty.com

We work with a great lender that has helped several of our clients.

Laurel
0 votes Thank Flag Link Wed Sep 5, 2012
I have helped a number of Canadians acquire property. Unlike Canada's 5 years, our loan terms are 15 and 30 years, so you can lock in today's low interest rates for teh longterm.

There are a number of lenders now willing to loan to Canadians. Each has a different program with different requirements. I can get into more specifics, but here is the list adn some details.

Washington Federal
RBC
Gold Canyon Bank, and I-Mortgage
BBVA Compass
M&I Bank
Harris Bank
Sun West Mortgage


A few highlights of the Canadian Citizen financing from BBVA Compass include:
15,20,25 and 30 year fixed rate terms available
3/1 or 5/1 adjustable rate terms available
$50,000 minimum loan amount
Will loan up to 75% for both purchase and refinance transactions up to $1,000,000
No prepayment penalties
Borrowers must have a BBVA Compass Bank checking account or open an account prior to closing
Loans
0 votes Thank Flag Link Wed Sep 5, 2012
I'm also Canadian living in Phoenix and yes you can get a 50% mortgage hera .
Let me know if I can help you.
0 votes Thank Flag Link Wed Sep 5, 2012
Yes you can. I have a great bank that I work with and they promote their loans for Canadian buyers. please contact to discuss.
0 votes Thank Flag Link Wed Sep 5, 2012
Hello Shenjonah,

I work with lenders who do write mortgages for Canadians. Each company has its own guidelines.
Please give me a call or email me through Trulia and I will be happy to give you their contact information. At that time, if you would like, I can arrange to send you listings for the particular area and other parameters that meet your needs.

I hope to hear from you soon!

Eileen
0 votes Thank Flag Link Wed Sep 5, 2012
Yes, there are a few local lenders that can do them. They usually want at least 30% down though.

By the way, I am a full time agent in Phoenix, and have helped several investors pick up good cash flow properties. If you are looking for an agent, please take a few minutes to look at my profile.
0 votes Thank Flag Link Wed Sep 5, 2012
There is financing available. Does not have to be a 2nd home. Rates are higher and down payment requirements are higher for non-residents.

If you need a contact to a lender who has programs for Canadians, let me know.
0 votes Thank Flag Link Wed Sep 5, 2012
Hi shenjonah,

A Canadian can get one loan for a 2nd home, after that it has to be all cash. I have tried to find a lender who will take a Canadian investor, but I could not find one. Make sure you have a management company as well once you make the purchase. See what others say.

http://www.AzHomesForSaleByMikeL.com
0 votes Thank Flag Link Wed Sep 5, 2012
Of course, you can get financing but you have to put down at least 35%. It's like you are applying for a non-qualifying type of loan because the lenders here can't fully access your documentation etc..
If I can help - you can reach me through Trulia.
I like to use the following mortgage broker:

http://dkhomeloans.com/home-mortgage-phoenix/
David Krushinsky (C) 602.695.7575, david@dkhomeloans.com
0 votes Thank Flag Link Wed Sep 5, 2012
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