Financing Your Home Purchase As A Foreigner
Financing can be a real challenge for non-resident aliens. Most US financial institutions do actually treat Canadians like full-fledged Aliens! For some reason, they either don't want or can't read Canadian tax returns and credit reports. If you ask me, they're just lazy. This has made it very challenging to get competitive financing options for Canadians in Arizona - especially in the tight credit market we are currently in!
We are finding that many Canadians, after researching financing here, are choosing to arrange financing in Canada and bring cash to purchase. Not only are they finding better terms on their loans in Canada, but this option also allows them to sometimes negotiate a better deal with the seller by proving their ability to close quickly with little hassle.
Recently, lending to foreigners has loosened up considerably - especially for Canadians because of the volume of Canadians that have 'invaded' our real estate market over the past 5 years. We have found a few lenders that may be able to assist you and your 'alien' families. You can speak with them directly to obtain finance terms for your home purchase:
Kirk Anderson - BNC National Bank
Bob Breverman - imortgage
Jamie Cordova - Washington Federal - 602-803-5358