So you’re from Canada, eh? And to get out of the bitter cold winters, you want to buy real estate in Las Vegas.
We all know how hard it is for Canadians to obtain a mortgage in the US nowadays. Las Vegas mortgage lenders restrict property purchases by foreign nationals to one vacation/second home with a down payment of 35% or more, and the buyer can’t own any other property in the States. (Of course that means no investment properties at all.)
One way around the US mortgage restrictions is to refinance property you already own in Canada and pay cash for your purchase here in Las Vegas. Below is a letter explaining the process from Canadian mortgage broker Rob Smith who specializes in Canadian refinances:
“As a result of recent economic events…