Where are my fellow Canadians getting financing on US properties?

[Brianne H.]

Hi, I'm ready to start buying BRRRRs in the US, but I'm trying to get my financing in order first. As an international borrower, where are you getting financing from? US banks? If so, what sort of rates and terms are you looking at? I haven't found any Canadian banks willing to lend on US property as they aren't able to place a lien if needed, yet I seem to remember hearing of Canadian banks financing in the US. Thanks!

[George Despotopoulos]

Hey @Brianne H. -- @Jonathan Leblond mentioned us above in his post. Happy to connect and see if we're a fit. Foreign nationals can qualify for both short & long-term financing, you don't need a US credit score/report. Big emphasis will be placed on your experience and the numbers on the deal. I would expect rates in the 9% - 10.5% range for 12 month bridge loans and 5% - 6.75% for 30 year fixed. Both will require a down payment of around 25% - 30% but it's very much deal/property driven so best to reach out to any lender to discuss.