Phoenix Homes For Canadians - 1-800-600-6110 » Financing http://www.thephoenixexperts.com/Blog Scottsdale and Phoenix Real Estate for Canadians | Arizona Realtors for Canadians Wed, 18 Jan 2012 18:08:40 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Is Financing STILL Available for Canadians?? http://www.thephoenixexperts.com/Blog/is-financing-still-available-for-canadians/ http://www.thephoenixexperts.com/Blog/is-financing-still-available-for-canadians/#comments Mon, 23 Feb 2009 22:45:00 +0000 admin http://www.thephoenixexperts.com/Blog/?p=89


Many Canadians are surprised to to hear that even with the current “credit crisis” in the US, Canadians are still able to get a mortgage to finance their Arizona vacation home. It is true that loan programs and requirements are changing daily. Nevertheless, the major banks here that finance Canadians still have excellent programs for Snowbirds. We work primarily with the US subsidiaries of the Bank of Montreal and the Royal Bank. Both banks can finance your Phoenix vacation home with 30% down, and a 3 year interest rate of approximately 4.875%. Contact us for more information or check out the financing information on our website www.ThePhoenixExperts.com. We are here to help make your dreams a reality.

Marc Brodeur
Realtor Specializing in Phoenix Real Estate for Canadians
The Phoenix Experts
www.ThePhoenixExperts.com
1-800-300-0263
Marc@ThePhoenixExperts.com

]]> http://www.thephoenixexperts.com/Blog/is-financing-still-available-for-canadians/feed/ 0 Current Financing Rates For Canadians http://www.thephoenixexperts.com/Blog/current-financing-rates-for-canadians/ http://www.thephoenixexperts.com/Blog/current-financing-rates-for-canadians/#comments Wed, 04 Feb 2009 17:53:00 +0000 admin http://www.thephoenixexperts.com/Blog/?p=81


There are many US banks that will give financing to Canadians to purchase a vacation home in Arizona. It is done all the time. We work closely with a local bank that is a subsidiary of the Bank of Montreal. It has a special Snowbird Mortgage Program. To buy a vacation home in Arizona they only require 20-30% down. Rates are approximately 4.875% for a 3 year fixed mortgage or 5.25% for a 5 year mortgage. Rates change daily but you can see what a great deal they have for Canadians. There is absolutely no pre-payment penalties if you pay if off early. Current Bank of Montreal clients save even more because the application fee is waived. Many Canadians who believe the Canadian dollar will recover are financing and buying now. They are taking advantage of the low interest rates and enjoying the perfect winter and spring weather this year, rather than putting their dreams on hold. When the Canadian dollar recovers they will simply pay it down at that time. It is an excellent way to begin living the life you deserve.

Interested in more information about financing? Contact us for more details or check out our website www.ThePhoenixExperts.com.

Marc Brodeur, Realtor
www.ThePhoenixExperts.com
We Are Dedicated to Canadians Clients

]]> http://www.thephoenixexperts.com/Blog/current-financing-rates-for-canadians/feed/ 0 The Differences Between Canadian & US Mortgages http://www.thephoenixexperts.com/Blog/the-differences-between-canadian-us-mortgages/ http://www.thephoenixexperts.com/Blog/the-differences-between-canadian-us-mortgages/#comments Mon, 19 Jan 2009 02:29:00 +0000 admin http://www.thephoenixexperts.com/Blog/?p=67


Many clients ask us if they get a mortgage in the US, how will it be different than the mortgage they have back home? The biggest difference is obviously that it will be in US dollars. If you earn Canadian dollars and you are paying back your mortgage in US dollars, your mortgage payment will fluctuate as the currency fluctuates. This could be an advantage or disadvantage. Some of our more optimistic clients who think the Canadian dollar is going back up, but want to buy now, are buying with a US mortgage. As the Canadian dollar goes up, their US mortgage payment effectively goes down.

Another difference with US and Canada mortgages is the amortization. In Canada a mortgage is typically amortized over 25 years, in the US it is 30 years. In the US you can also lock in your interest rate for all 30 years, while in Canada a 10 year fixed rate is more common.

We would be happy to refer you to several local lenders with special programs for Canadians purchasing real estate in the US or look at our Financing page on www.ThePhoenixExperts.com We are dedicated to serving Canadians interested in Phoenix and Scottsdale real estate.

Marc Brodeur
The Phoenix Experts
www.ThePhoenixExperts.com
1-800-300-0263

]]> http://www.thephoenixexperts.com/Blog/the-differences-between-canadian-us-mortgages/feed/ 0 Can Canadians Get US Mortgages? http://www.thephoenixexperts.com/Blog/can-canadians-get-us-mortgages/ http://www.thephoenixexperts.com/Blog/can-canadians-get-us-mortgages/#comments Wed, 14 Jan 2009 16:59:00 +0000 admin http://www.thephoenixexperts.com/Blog/?p=64


YES! We work with several lenders here in Phoenix that lend to Canadians all the time. Bank of Montreal and Royal Bank of Canada both have subsidiary banks in the US with special loan programs for Canadians buying real estate in the US. There are also large US banks with similar programs. No US social security number or credit report is required. All you need is 20-30% down and good Canadian credit. We would be happy to refer you to the mortgage specialists in Phoenix that we work with regularly. Just contact us for more information or look at our Financing page at www.ThePhoenixExperts.com.

We are dedicated to serving Canadians who want to buy homes in Phoenix or Scottsdale.

Marc Brodeur
Realtor
The Phoenix Experts
www.ThePhoenixExperts.com
1-800-300-0263

]]> http://www.thephoenixexperts.com/Blog/can-canadians-get-us-mortgages/feed/ 0 Financing Options for Canadians http://www.thephoenixexperts.com/Blog/financing-options-for-canadians/ http://www.thephoenixexperts.com/Blog/financing-options-for-canadians/#comments Thu, 30 Oct 2008 15:08:00 +0000 admin http://www.thephoenixexperts.com/Blog/?p=33


Within the last few years it has become quite easy for Canadians to get a mortgage from a US bank to purchase a vacation home in Arizona. Several years ago this was unheard of. Now Canadians with good credit can get a US mortgage with 20-30% down. Interest rates are aproximately 6-7% and can be locked in for up to 30 years. Most of our clients, however, choose to finance their Phoenix homes through Canada. Canadian banks will not give you a regular mortgage for a US home, because they are unable to foreclose on that home if you fail to pay the mortgage. They will however, lend you money as a personal line of credit or through a home equity line of credit (HELOC) to purchase a vacation home. The benefits of financing in Canada and then paying cash for the home in Phoenix is financial security. You have locked in the exchange rate and your monthly payment. As the currency fluctuates (which we have seen in the extreme during the past month) your monthly payment does not change. If you took a US mortgage and was paying back your US mortgage with Canadian dollars, the monthly payment would effectively go up every month that the Canadian dollar went down. We can refer you to mortgage professionals in both Calgary and Edmonton. Please feel free to contact us for referrals.

Marc Brodeur
Realtor
www.ThePhoenixExperts.com
Marc@ThePhoenixExperts.com
1-800-300-0263

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