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Foreigners Buying in the USA

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Moses W.
  • Investor
  • Toronto, Ontario
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12
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Refinance property in US?

Moses W.
  • Investor
  • Toronto, Ontario
Posted May 28 2017, 11:45

Has anyone successfully refinanced a property in the US?  I'm a Canadian and I'm hoping to refinance some of my properties in Florida to purchase additional investment properties.  I have cash available but I'd rather use the equity I have available. 

I've talked to TD Bank but their options are very limited, with lots of requirements like 5 trade lines in Canada for at least 2 years and I believe they only allow 2 HELOCs or 1 mortgage.  RBC Bank will only use owner occupied residential properties as collateral.

Also, are rates so high for non-residents that it's not worth it? 

Anybody know?

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