Quote:
Originally Posted by Ryan Coke
Hey, reading the thread yesterday about Mortgages and mortgage brokers got me thinking that maybe there is some good info out there from CP community.
We are looking at buying a place in Phoenix, and am trying to decide how to finance it. I have a HELOC that I should be able to use for most, if not all the new place. But I am wondering about pros and cons of doing this versus getting an actual mortgage, or doing it 50/50 US$ mortgage/canadian$ HELOC (provides a hedge on the exchange rate).
I understand I would need to get a mortgage from a US lender, but was wondering if maybe there were ways that a mortgage broker up here can be of any help.
Any thoughts would be appreciated form anyone who has any insight or experience with this sort of thing.
|
RBC Bank is a good place to start if you want american financing. They have an american arm that will let you open american accounts and get mortgages based on your canadian credit. I'm sure there are other companies that do the same.
US mortgages are tax deductible of course, you're probably not in a situation to take advantage of that though.