Canadians buying RV lots in Florida
We would like to purchase a RV lot in Florida,any suggestions on how or about financing? Thanks in advance!
Forum Discussion
Dealing with US banks is almost impossible for a Canadian unless you are living and working in the US. Some of the 'US branches' of Canadian banks do offer US mortgages to Canadians but even that's not easy (you still need a very significant downpayment (40% or more) and they are very selective on the type of property they will finance (I've heard even condos can be very difficult so I'm not surprised they won't finance just a lot) so in most cases, the most common way for Canadians to finance US real estate purchases is to use a line of credit in Canada to get the money and then use that money to do a cash purchase in the US.
