Professional Services Partners
U.S. financing can help lessen the impact of today's foreign exchange on Canadian buyers.
Concerns over the Canadian-U.S. currency exchange rate and potential costs may cause Canadian buyers to put off a home purchase in the U.S. With the Canadian dollar at its weakest point in 11 years, financing a U.S. property is a cost effective alternative for Canadian clients, helping to lessen the one time impact of foreign exchange if they pay cash.
Although the cost savings are significant, many Canadians are hesitant about financing in the U.S. for two primary reasons:
A belief that not having a U.S. credit history (or a limited history) will prevent them from obtaining financing.
Being unfamiliar with the highly-regulated, more complex process in the U.S.
Here are a few questions you may have?
I don't have a U.S. credit history, is my only option cash?
Does pre-qualifying for a mortgage lock in my interest rate?
How do interest rates and fees differ in the U.S.?
Why does the mortgage process take so long in the U.S?
For answers to all your questions please go to: RBC BANK