We do about 2 of these a week. However, you MUST use very clever strategies to attain success. Our website is full of information that can help: http://ifindproperties2.fmgateway.com/canadians/canadian-fin
As of 2/6/12 there is none available. Some clever Canadians have purchased homes as a 2nd home and then made them available for renting. HOWEVER, if you do this within 6 months of purchasing a second home, your lender could call the note. Be careful.
Second Home Financing:
You can get financing from nearly any Canadian lending institution. You should start with the lender who is carrying the note on your primary home...if you currently have one.
Do not move money into America before arriving! We have discovered that it's a major hassle for you to wire money from your US bank to a title company when you are physically in Canada. This doesn't sound intuitive but trust us, leave your money at home.
(When You Arrive)
While you are in the states, this is the best time to set up a bank account. You will need 2 forms of ID and usually about $50 in cash to open an account. If you have an LLC or LLP already set up with a "registered agent", we recommend that you use that address.
You will wire funds from your Canadian bank directly to the title company for your earnest money deposit and the balance of funds when you close. We do recommend that you set up an account with Intuit to enable you to send and receive money electronically (For Investments).
If you are using one of our recommended professionals to manage your LLC here in the states, money will be sent to you via Intuit. (If you will be living in the home, disregard this item.)
Thanks for inquiring...
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