I was hoping to get some referrals or guidance to help find some lenders in the USA who are open to working Canadian Investors.
I am a Canadian and I am looking to grow my real estate business down in the US, specifically in Orlando, Florida to start. We have about $500,000 USD to start investing but we are looking for a good Mortgage broker or lender who has good terms dealing with a Canadian Investor.
Specifically, looking to see if there are some lenders who will work with 20% down payments instead of 30% foreign buyer down payment as some lenders have quoted me.
If you know anyone I would really appreciate some referrals.
Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
4y
@Matthew Varga Orlando is a big destination for Canadian investors, so its pretty commonplace here to find good lenders and I have a few if you still need.
Specialist · Orlando, FL · Member since 2015 · 183 posts · 83 votes
4y
@Matthew Varga I'm a fellow Canadian who moved down to the Orlando area about 3.5 years ago to invest in real estate full-time. I'm sure you'll find lenders who'll lend to you, just not sure how good the rates will be. Have you tried RBC at all? As in RBC US which is a different bank altogether from RBC Canada, but they work hand-in-hand. They don't have any physical locations, just a virtual presence, but I know they had a couple of products a few years back when I was looking into doing the same thing you are. At the time I believe they required a larger down payment but their rates were much better because they were basing it on your Canadian credit. TD may be an option also as they have physical branches down here. Let me know if I can help in any way. Good luck!