Helping Canadian Clients Invest in U.S. Second Homes and Properties

For Canadians dreaming of owning a second home, vacation property, or investment real estate in the U.S., navigating financing as a non-citizen can seem daunting. The good news? The Foreign National loan is designed specifically for Canadians and other non-U.S. citizens, making it easier to purchase that Florida condo, Arizona retreat, or rental property south of the border. Here’s how this tailored mortgage program can help your clients achieve their U.S. real estate goals.

Why Canadians Love the Foreign National Loan

Whether it’s a winter escape to enjoy sunny skies or a smart investment to diversify their portfolio, Canadians are increasingly drawn to U.S. real estate. The Foreign National loan simplifies the process by removing barriers that traditional U.S. mortgages often impose on non-citizens. With no need for a U.S. credit score and flexible terms, this program is perfect for Canadian snowbirds, vacationers, and investors alike.

Key Features of the Foreign National Loan

The program offers two options—Purchase/Rate-Term Refinance and Cash-Out Refinance—with terms that suit a range of goals. Here’s what Canadian clients need to know:

Purchase or Rate/Term Refinance

Maximum Loan-to-Value (LTV): Up to 75%
Finance a significant portion of your U.S. dream home or investment property.
Minimum FICO Score: Not required
No U.S. credit history? No problem—your Canadian credit doesn’t need to translate.
Maximum Debt-to-Income (DTI) Ratio: 50%
Flexible enough to accommodate your Canadian financial obligations.
Maximum Loan Amount: Up to $3 million (or $2 million with a DSCR requirement)
Ideal for high-value properties like beachfront condos or city rentals.
Minimum Debt Service Coverage Ratio (DSCR): 1.0 (for certain loans)
For investment properties, ensures rental income covers the mortgage.

Cash-Out Refinance

Maximum LTV: Up to 70%
Unlock equity from your U.S. property to fund renovations or other investments.
Minimum FICO Score: Not required
Just like the purchase option, no U.S. credit score is needed.
Maximum DTI Ratio: 50%
Keeps financing accessible for Canadians.
Maximum Loan Amount: Unlimited for LTV ≤ 60%; $500,000 max for LTV > 60%
Access cash based on your property’s value.
Minimum DSCR: 1.0
Ensures investment properties remain profitable.

A Big Win for Canadians: No Credit Reference Letters

One standout feature is that the Foreign National loan doesn’t require credit reference letters. For Canadians who may not have a U.S. credit profile or easy access to international credit documentation, this eliminates a major hurdle. The focus is on the property and your financial picture, making the process smoother and faster.

Who’s This For?

This loan is perfect for:

Canadian snowbirds seeking a second home to escape winter.
Vacation property buyers wanting a U.S. getaway for family holidays.
Investors looking to capitalize on U.S. rental markets.

Whether your clients are retirees eyeing a Miami condo, families dreaming of a California cottage, or investors targeting Texas rentals, this program opens the door to U.S. ownership.

How Canadians Can Get Started

Ready to help your Canadian clients secure their U.S. property? Connect with a lender experienced in Foreign National loans, that’s us! Reach out to one of our advisors today, at (800) 517-4240 or info@oceancapitallending.com to explore options, get answers, and guide your clients toward financing success.

Why Now?

With the Canadian dollar’s fluctuations and strong U.S. real estate markets, now’s a great time for Canadians to invest. The Foreign National loan makes it easier than ever to own a piece of the U.S., whether for personal enjoyment or financial growth. By offering this program, you can help your clients seize the opportunity without the stress of navigating complex U.S. mortgage rules.

For Canadians, the Foreign National loan is a gateway to owning U.S. real estate with minimal hassle. No U.S. credit score, high loan amounts, and flexible terms mean your clients can focus on finding the perfect property—whether it’s a cozy vacation home or a cash-flowing rental. Reach out to a specialist today to learn more and start turning your clients’ U.S. real estate dreams into reality!

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TOP 7 REASONS CANADIANS ARE BUYING IN FLORIDA

1. Climate and Lifestyle Appeal

Florida’s warm climate and sunny weather make it an ideal destination for Canadians seeking to escape harsh winters. Many Canadians, often referred to as “snowbirds,” purchase properties in Florida as vacation homes or second residences to enjoy the mild winters and vibrant lifestyle offerings[1][3].

2. Affordability Compared to Global Markets

Florida’s real estate prices are relatively affordable compared to other global metropolitan areas, such as Hong Kong, Singapore, or Zurich. This affordability makes Florida an attractive option for Canadians looking for investment opportunities or vacation homes [1][3].

3. High Rental Yields

Florida offers strong rental yields, averaging 13% for short-term rentals, which appeals to Canadian investors who may use their properties for rental income when not in personal use [1][3].

4. Proximity and Familiarity

Florida is geographically close to Canada, making travel convenient for Canadian buyers. Additionally, many Canadians are familiar with Florida due to frequent visits before purchasing property—93% of international buyers reported visiting Florida at least once prior to buying [1][3][5].

5. Cash Purchases

A significant proportion of Canadian buyers (67%) pay in cash, which simplifies transactions and avoids complications related to financing. This is especially beneficial given the challenges foreign buyers often face with U.S. mortgage options [3][4].

6. Favorable Exchange Rates

While the U.S.-Canadian dollar exchange rate influences purchasing power, Canadians still find Florida properties appealing despite currency fluctuations. The exchange rate allows Canadians to make strategic investments in U.S. real estate markets [2][6].

7. Cultural and Economic Ties

Canada has historically been one of the largest foreign investors in U.S. real estate, with Florida consistently being a top destination due to its established infrastructure catering to international buyers [1][3].

These factors collectively explain why Canadians make up a significant portion of foreign homebuyers in Florida, highlighting the state’s unique appeal as a vacation and investment destination.

Call 800.517.4240

“If you have dreams …
… we have the solutions ”

Helping Canadian Clients Invest in U.S. Second Homes and Properties

1. Climate and Lifestyle Appeal

2. Affordability Compared to Global Markets

3. High Rental Yields

4. Proximity and Familiarity

5. Cash Purchases

6. Favorable Exchange Rates

7. Cultural and Economic Ties

Citations:

Call 800.517.4240

“If you have dreams …… we have the solutions ”

1. Climate and Lifestyle Appeal

2. Affordability Compared to Global Markets

3. High Rental Yields

4. Proximity and Familiarity

5. Cash Purchases

6. Favorable Exchange Rates

7. Cultural and Economic Ties

Citations:

“If you have dreams …
… we have the solutions ”