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Mortgages in the USA for Canadians

It should not come as any major surprise to learn that mortgages in the USA for Canadians are not the same as mortgages that are provided for US citizens. As such if you are Canadian and you are considering buying a property in the US, you should do some research first so you understand more about this portion of the market. Whatever kind of property you want, you have to find a suitable mortgage that is designed for you. Let’s find out more about it now.

Do mortgages in the USA for Canadians actually exist?

Yes they do, so don’t get disheartened if you don’t spot them straightaway. They will not be exactly the same as the mortgages offered to US citizens though, so be prepared for some differences to be evident.

Different banks work in different ways too, so you might find that mortgages in the USA for Canadians are easier to get with some banks than others. A good example comes from the RBC Royal Bank. If you get an appropriate bank account with this particular bank they will use your credit rating as it stands in Canada when they consider whether or not to give you an American mortgage. So you can see that there are possibilities here – you just need to be aware of what they are.

How can you look at a selection of mortgages in the USA for Canadians?

The worst thing to do would be to trudge around all the different banks in America, asking whether they have mortgages in the USA for Canadians to apply for. This is particularly the case if you happen to live in Canada full time; it’s simply not an option.

So the best course of action is to resort to the internet. You can visit the websites of lots of major banks to see whether they provide mortgages in the USA for Canadians. Narrow down the possibilities and make a note of them so you know where you have to go in order to get the mortgage you want.

You can also find more general information about mortgages in the USA for Canadians. For example, what will you need to show or prove in order to be considered? It is often much easier to get mortgages in the USA for Canadians when the property to be purchased is a vacation property. If you are looking to live in the US you may find you have more hoops to jump through. In any case, doing some research online will definitely make life easier for you when it comes to preparing to apply for any kind of mortgage in the US.

As you can see, preparation is the name of the game here. The more you know in advance the fewer surprises you will come up against when you want to apply for your mortgage. So don’t get disheartened if you are finding it tricky to locate mortgages in the USA for Canadians, there are more of them around than you might think.

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