Great news Canada! If you are a Canadian looking to buy a second (vacation) home in the USA, such as in Phoenix or Tucson AZ, I can help. RBC Bank (USA) has an American loan program designed for Canadians seeking a mortgage from a US lender. You do not need to have US credit history or any US income to qualify, nor do you need to already have a US residence or mailing address. RBC Bank (USA) offers a great fixed rate mortgage for Canadian citizens.
As you know, many Canadians are looking to take advantage of the US housing market. This finance program, backed by the full strength of Canada’s largest bank, allows you to purchase that dream winter vacation property without using up all your savings. With 30% down, you can secure a mortgage for 70% of the value of the home. The US mortgage for Canadians document requirements are also very simple:
• Most recent paystubs
• 2 previous years T4s
• 2 previous years T1 Generals
• 2 previous months bank statements
• Mortgage statement (if any), homeowners insurance bill and property tax bill for your current Canadian home
• Copy of provincial driver license and Canadian passport
As a fellow Canadian who has lived in Phoenix since 2004, I am the preferred real estate agent to guide you through the entire process, from obtaining the loan qualification from RBC to searching for your new house and reaching a successful home closing! Most Canadians are unfamiliar with American real estate aspects, such as title insurance, escrow companies and other customary procedures unique to our process. Let me help you navigate through Phoenix foreclosures and short sales to get you the best deal on the perfect choice. Don’t hesitate to contact me for anything.
