Canadian Inv…, Home Buyer in Chandler Ginning, Gi...

The banks that will lend money to Canadian investors:

Asked by Canadian Investor, Chandler Ginning, Gilbert, AZ Thu Aug 12, 2010

Mortgage for Canadian investors

As a Canadian investor, it is really hard to find banks who want to lend money to you to buy rental property. But after doing some research, I ,ve found the following banks that would lend money to foreign investors .

First, you can use your Canadian home as security, get the line of credit and pay cash to buy rental property in Arizona; and your interest can be writed off as expense of your rental income.

But for those who want their property to be financed in Arizona, there are some banks will offer mortgage for Canadian investors to buy rental property.

1/ Washington Federal: 35% down, 7.125 interest rate, 30 year fixed prepayment penalty within the first 3 years.
http://www.washingtonfederal.com/Find-A-Location/Arizona.asp…

2/ RBC you have to find the right person
http://www.rbcroyalbank.com/products/mortgages/index.html

3

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Answers

4
/ Bank of Montreal
You have to be BMO’s customer in Canada

4 Amerifirst 25% down, 6.5 -7.5 Interest rate , 30 years fixed

5/ BBVA compass bank
http://www.bbvacompass.com/compass

I have got a lot of help from this forum; hopefully this information will be helpful to your Canadian customers. Thanks
3 votes Thank Flag Link Thu Aug 12, 2010
I was just informed a few days ago that BBVA (formally Compass) is great for Canadian buyers. They are an international bank so they are not "afraid" to lend to others. I am told that the interest rate is about .25 higher than what current rates are & down payment is between 25%-30%....which is much lower than I have found in the past.

Christine
West USA Realty Revelation
602-750-0312
1 vote Thank Flag Link Mon Oct 11, 2010
I closed a transaction with a Canadian buyer last month with Washington Federal. The contact person Lynda Neff. The buyer was very happy with their service. In my recent conversations with Compass bank they indicated they are no longer doing non resident loans.
Web Reference: http://www.gergurroz.com
1 vote Thank Flag Link Sun Sep 12, 2010
Washington Federal

Peoples Mortgage Company

Compass Bank all do them.
Web Reference: http://EastValleyTeam.com
1 vote Thank Flag Link Fri Aug 27, 2010
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