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Updated about 3 years ago on . Most recent reply

User Stats

44
Posts
43
Votes
Jami Kloet
  • Investor
  • Sarnia, Ontario
43
Votes |
44
Posts

Canadian Accessing a Traditional U.S. Mortgage - suggestions?

Jami Kloet
  • Investor
  • Sarnia, Ontario
Posted

Hi everyone, it's been a few years since I've posted. I have a question and I hope this is in the right spot. 

We are a Canadian family with a small real estate portfolio (9 doors in Ontario). 

We currently have an accepted offer on a home in Florida. We were pre-approved by RBC for a US Mortgage, so felt confident in our offer/purchase. Fast forward, when we went to do the paperwork, RBC said we were maxed beyond five properties, so they couldn't provide us with the mortgage. No wiggle room, end of story. (Properties are full occupancy, full rent paid and have been throughout the pandemic.)

So now we're exploring other financing opportunities, and just curious if anybody has any suggestions. We can provide a sizeable down payment, but as investors, would prefer to mortgage what we can.

We have a phone call in with TD and have reached out to another broker referred via a mortgage professional we know, but I am wondering if anybody has any other suggestions for lenders? 

We are willing to walk away if needed, but just trying to explore other opportunities we might now be aware of. 

Thank you. 

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