Financing for Canadian Buyers in Arizona - 2nd home in AZ for Canadian Investors
Here are the guidelines for obtaining financing for a 2nd Home (Winter visitor) or investment property, in Arizona. There really hasn't been any Financing for Foreign Nationals until now! Our Market has stabilized, so if you're looking to take advantage and purchase a 4 bed home in Maricopa, This will work with any Foreign National that want's to take advantage of our Real Estate Market:
Higher down payment may be required depending on the financial strength of applicant, up to the underwriters discretion Compass Bank will make residential first mortgages to the following non-persons:
- Trust
- Limited Liability Companies
- Family Limited Partnerships
Relationship Borrowers must have a BBVA Compass Bank checking account or open an account prior to closing.
Types of properties that qualify:
SFR (Single Family Residence) IE Single Family Home for Sale in Phoenix
PUDs/CONDO must be agency approved (Panned Unit Development, like Condo's)
Non-warrantable Condos with LTV's less than or equal to 70%
Property must be located within the Market area served by Retail Compass Bank Branch:
This financing will work on Homes for Sale in Scottsdale with Pools! It works with all of our Condo and Loft Properties in Downtown Tempe, Downtown Phoenix and Scottsdale.
Minimum purchase price is $50,000, and a max purchase price of $1,000,000, the program requires 50% down, and you are allowed to purchase one home with this program, rates are competitive with our current markets, closing costs are the same, best of all, you'll be capitalizing on our market!
Chris Dunham
"The Real Estate Guy!"
602-321-6188
RLS8GUY@Yahoo.com
Solutions Real Estate
2353 E Baseline Road
"Equal Housing Opportunity"
