A question that comes up a lot in financing is whether you have to be a US citizen to finance a Phoenix, Scottsdale or Paradise Valley home for sale. More specifically the question is often “Can you finance Canadian buyers?” The answer is you DO NOT have to be a US citizen. You can be a “permanent resident” alien or “non-permanent resident” and have access to the same loan types and products as anyone else. In order to finance using Conventional or FHA financing you simply need to have established US (social security number based) credit and be able to prove you are working in the states and that it will continue.
For our “neighbors to the North” who have no established US credit, don’t work in the US and are really just looking to purchase a vacation home there is still financing available. The Ross Team at Nova Home Loans provides an opportunity to purchase with 25% down on a 3yr or 5yr ARM and even refinance a current second home at 75% of the home value. Nova can use a Canadian credit report if there is no US credit established and will use Canadian tax returns and income documents (T1,T2s and or T4s). So you do not need to be a citizen or have residency status in the United States to buy a home for sale in Phoenix, Scottsdale, Paradise Valley AZ. or anywhere else in the Greater Phoenix area. There are options open to our Canadian neighbors to buy Metro Phoenix real estate.
Joe Janus – Metro Phoenix AZ Realtor®
Contemporary and Modern Homes for Sale, Spanish Style Homes, Golf Course Homes in areas such as Troon and DC Ranch, and neighborhoods such as Arcadia, Willo Historic District and North Central Phoenix.