Congratulations on considering purchasing real estate in the United States. With today’s low interest rates and wide selection of properties available at competitive prices, now is a perfect time to make a real estate purchase in the U.S.
Before you get started, it’s important to understand the differences between mortgages in Canada and in the U.S. As the only national mortgage† provider for Canadians purchasing property in the U.S., RBC Bank is available to not only meet your mortgage needs but also smoothly guide you through the process. As your trusted advisor, we’ll let you know what to expect at every step along the way and help be sure you get the mortgage that is right for you – all with the peace of mind of RBC Bank. Now, let’s get started.
The U.S. mortgage industry is highly regulated. That means securing a mortgage loan in the U.S. is more complex and takes a while longer than in Canada. Yet, there are several benefits to financing real estate in the U.S. with RBC Bank.
In the U.S., you will be asked to provide information and documentation about the source of your down payment. It is critical that once you’ve deposited your down payment funds into your banking account, that remain in the account that has been verified in order to avoid delays in the process.
Now that you know the value of getting a mortgage in the U.S. plus the differences between the U.S. and Canada, you’re ready to get started learning about the process you’ll experience. Read our Getting a Mortgage in the U.S.: What to Expect guide to learn more, today.
†All loans are subject to approval, including verification of acceptable income, creditworthiness, and property valuations. Minimum and maximum property values and maximum loan-to-value ratios apply. Homeowner’s insurance is required for all loans and flood insurance is required if property is located in a Special Flood Hazard Area. Escrows may be required. There are closing costs associated with these products.