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    [description] =>  For Information about Canadian Immigration, click here
 


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Pardon Partners – USA Travel TOP Banner ALL PROVINCESPardon Partners – USA Travel TOP Banner ALL PROVINCES

Can Canadians own real property in the USA?

Region: Ontario Answer # 1085

Yes. Canadians can own real property in the USA. In fact, anyone may own property in the United States, regardless of their citizenship. It is important to note that if you buy property in the U.S., you still must abide by laws about the length of your stay in America. View topic 1030 Do Canadians need a visa to enter the USA? for more information.

What types of mortgages are available in the U.S.?

If you are considering obtaining a mortgage for your real property in the USA, there are a number of things to consider:

American Mortgages

You can apply to obtain a mortgage with an American bank. However, the rules may be quite different when applying for a mortgage in the United States vs. Canada. Some paperwork that may be required includes: copy of passport, international credit report, up to 2 years employment history, 2 year history of residency, tax submissions for up to 2 years, and proof of downpayment.

Cross-Boarder Mortgages

Canadians can also obtain cross-boarder mortgages when purchasing property in the U.S. These mortgages are offered by Canadian financial institutions with operations in the U.S., like BMO and RBC. Generally, dealing directly with Canadian banks is beneficial because they offer better mortgage rates, as Canadian lenders are much more comfortable lending to Canadians. Furthermore, a Canadian bank with U.S. operations will usually have faster approval times with an easier process.

Type of Property

The downpayment will vary depending on your intended use of your U.S. property. Generally, if the property being purchased in the USA is for personal use, then a lower downpayment is required. On the other hand, for investment properties, a larger downpayment will be required.

 

A criminal record will prevent you from entering the USA or obtaining your USA immigration status. To erase your Canadian criminal record, call toll-free 1-888-808-3628 or learn more at Pardon Partners. It’s easier than you think.


Pardon Partners – USA Travel ON Pardon 1030-1100Pardon Partners – USA Travel ON Pardon 1030-1100



								

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