US mortgage financing for Canadian citizens through major US banking institutions is still available.  Many Canadians have, in fact, begun exploring financing a portion of their home purchase in Phoenix, Arizona thanks to loan programs currently available to qualified buyers through these trusted lenders.

Many of our Canadian clients however continue to arrange financing in Canada through a home equity line of credit (HELOC) which takes the future currency fluctuations completely out of the financing equation.

Canadian Home Equity Line Of Credit loans have become extremely popular as more and more home owners owe less to the banks on their mortgages.  The interest rates on HELOCs vary depending on the current Bank of Canada interest rates.

Most Canadian banks, such as BMO, Royal Bank, TD, and CIBC all base their HELOC rates around prime.  The main advantage with a HELOC, as compared to a mortgage, is flexibility.  You can borrow from your HELOC at any time, and you pay down as much as you want at any time.

Many sellers still continue to value cash buyers than those that are requiring financing in the US. In many cases, cash allows our clients to negotiate more favorable terms on their Phoenix, Arizona home purchase as well as "beat out" the competition.

The time is now!  The Phoenix, Arizona housing market is currently at historic lows, while the Canadian dollar is currently at historic highs.  The process of financing your Phoenix area home purchase is simpler than your might expect!