All Forum Posts by: Donald Blair

@Donald Blair unless something has changed, the Canadian mortgages are amortized over 30 years but the rate term is typically about 5 years. It's different in the US where you can lock into to a 30 year term (ie. the rate doesn't changed over the entire life of the mortgage). As of about 5 years ago when I was inquiring, RBC US did provide US mortgages for Canadians however not a 30 year term, only ARM (Adjustable Rate Mortgages) which is a similar mortgage product to what Canadians are used to, difference being after a 5 year term it would flip to an adjustable rate mortgage. Maybe things have changed but it's worth talking to them as well as others like TD who also has a US presence to see what they can provide. Looks like you'll have options going with a US broker/lender as noted from other's comments for a fixed 30 year but the terms may not be as favorable, especially as a foreign investor. But if the numbers make sense, having the peace of mind knowing that you're at a fixed rate over 30 years where rent appreciation is likely and the possibility to refinance if rates drop is a huge advantage. Good luck!

 Are you referencing Canadian banks operating in the U.S.? I have never heard of anyone getting a fixed rate for 30 years in Canada. This would be a huge change if true.

Does Canada have 30 year fixed rate mortgages?  I know that most countries don't.  That's a pro for investing in a US property and getting a mortgage in the US.