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.
2/ RBC you have to find the right person
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