Canada to Arizona Real Estate info
What type of mortgage loans and rates are available?
Generally in the past few years, for US citizens the sky has been the limit as far as loan choices. Fixed rate, adjustable, no doc, zero down etc. The recent financing industry troubles have curtailed the availability of some of these products. This has affected the loan products available to foreign nationals as well. Fixed rate loans for foreign nationals are very difficult to find at this point. As the financing industry works through it's troubles we should start to see that product again, but I can only guess as to when. Adjustable rate loans are available in varying terms. Click here -Examples of loans for Canadians -to see a sample of programs provided through US Bank Home Mortgage.***Please note that the flyer that opens is an example only and DOES NOT show current rates***
Whether for a 2nd home or investment foreign nationals will need the following documentation for obtaining a loan in the US:
2 years tax returns and T4's
2 months bank statements
latest RSP statements
2nd home buyers will need 20% down payment (subject to qualifying)
Investment buyers will need 25% down payment (subject to qualifying)
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