Darla Schroeder, Realtor, CIPS, GRI, e-PRO
Century 21 Real Estate Champions
Certified International Property Specialist
Madeira Beach, FL
Thank you for your answer
Canadians or for the matter all foreigners usually have to have about 30% down, once in a blue moon we find 25% and yes it has to do with a lot of the things you mentioned but it is a different set of rules when you are a foreigner
I have sold property to a lot of Canadians and being German myself I have a lot of German clients too.
With the mortgage market as it is and the US dollar so weak compared to the Canadian $ or the Euro I thought some lenders might have gotten a bit more creative or flexible towards foreigners
I don't believe there is any criteria for the lowest down pmt based on if you are from Canada. It has more to do with if it is a second home, investment property or if it is a primary residence, how much they put down and what the LTV is.
Get in touch with a good loan officer there who can help you out. Local loan officers are used to dealing with the Canadians and the Snowbird traffic you have there.