Can I get a Cdn Mortgage for a U.S. house?

Hello,

I am currently a Permanent Resident of Canada. I currently own a home and live in Canada.

I am looking to buy a house in the U.S. and was wondering if people are allowed to get a mortgage from a Canadian Bank to buy a house in the U.S.

Thanks in advance for any answers.

In addition to the above question: If I can't get a CDN mortgage for a US house then can I open a U.S. bank account while I am still in Canada?

I'm basically asking for the process/options of buying house in the US while living in Canada. .

why do you want to? Vacation home? Eventual settlement? Income opportunity? Are you a US citizen living in Canada?

I have no idea about financing a foreign property, you'd have to ask a bank. But opening a bank account in the US without a Social Security Number will prove to be rather difficult.

You can definitely buy a home in the US and get it financed. A US Social Security number is not required. My fiance and I (Canucks ourselves) have started a company in Phoenix to help Canadians and other foreign nationals with the purchase of US property. We know from experience how confusing it can be.

We can't post our site yet on this board because we are new to Canucksabroad but let me know if you would like more info.

The financing will have to be from US. but a Cdn certainly can get US financing on a US home, without living in US.

You can definitely buy a home in the US and get it financed. A US Social Security number is not required. My fiance and I (Canucks ourselves) have started a company in Phoenix to help Canadians and other foreign nationals with the purchase of US property. We know from experience how confusing it can be.

We can't post our site yet on this board because we are new to Canucksabroad but let me know if you would like more info.

Hello,

Can I have more info of this topic?

Thank you very much!

Jeff

You can open a bank account in the US, it's just they need the SSN for any interest payments, but you can use a TIN. http://www.irs.gov/individuals/article/ ... 87,00.html

Make sure you file a W-8 so they don't withhold the tax. But you have to declare it on your T-1 in Canada.

Hello I am looking to buy a house in Texas, but can't seem to find any information getting a mortgage in the states. I have a TN visa and all that. Can some one please help me! I notice above there is someone who says they have info.if you read this please respond and let me know. Thanks Char

American mortgages are available for Canadian citizens regardless of whether they have a Social Security number.

1-Rates tend to be higher than the ones offered American citizens (around 6.75%-7.25%)

2- Downpayment requirements are 30%

3- A copy of your passport is needed

4- We need to track the funds for down payment- usually 2 months of bank statements is sufficient

re mortgage reply from Terran - I would appreciate more info as I am looking into purchasing a home in northern NY and I can't seem to be able to get a bank to mortgage my home.