US investment mortgage for Canadians

[Luiz Newlands]

Hi There, I have been looking for my first investment and have decided to take it south of the border. Canadian banks provide US mortgage only for vacation properties, but not for investment. How are you funding your US deals? Assuming 20% to 30% down payment cash available.

Thanks

[As Dutt]

@luiz

I'm the guy who Hai mentioned above. 🙋

I got approved yesterday for only 80k with 25% down, 4.75%, 30 years.. I told them straight up that it's an investment property. I wanted 125k but after the RBC agent did his math, he told me that he can pre approve me for 80k right off the bat. For a bigger amount, I'll need to send in the papers etc and what not.

good luck!

PS: I've been with RBC since April 2016. I'm not a Canadian citizen, just a PR. I have no sort of work/study/etc. visa for USA except a regular 10 year travel visa.