Own Luxury Homes®
US Mortgage for Canadians: RBC, TD, Scotiabank and Foreign National Options
Canadians need 25% down for foreign national US mortgages. RBC, TD, Scotiabank, and BMO have US arms accepting Canadian NOAs and T4 slips. No US credit history needed. 0.5–1% rate premium above US-citizen rates. Own Luxury Homes® International Buyer Verification Standard™ mortgage specialist connections.
Home — International Buyer Hub — US Mortgage for Canadians
US Mortgage for Canadians: RBC, TD, Scotiabank and Foreign National Options
25%
Typical down payment for Canadian foreign national mortgage (vs 20% for US residents)
3 Banks
RBC, TD, and Scotiabank all have US banking arms offering Canadian cross-border programs
No US Credit
Canadian credit history cannot be used for US mortgage qualification
0.5–1%
Rate premium above comparable US-citizen rates for foreign national programs
Canadians face a specific mortgage challenge when buying US property: their Canadian credit history means nothing to a US lender. Royal Bank, TD, and Scotiabank all operate US banking subsidiaries that understand Canadian income documentation and can bridge the gap. These cross-border programs are the fastest path to US financing for most Canadian buyers. For buyers who prefer a US-only lender, foreign national mortgage programs are available but typically require a higher down payment and carry a rate premium.
Own Luxury Homes® — International Buyer Verification Standard™
Own Luxury Homes® specializes in representing international buyers of US real estate. Our International Buyer Verification Standard™ confirms every agent’s cross-border transaction experience, FIRPTA knowledge, foreign national mortgage familiarity, and currency transfer protocol before assignment. No dual agency. Full buyer representation. Contact us now.
Canadian Bank US Mortgage Programs
| Bank | US Operation | Program Type | Key Advantage |
|---|---|---|---|
| Royal Bank of Canada (RBC) | RBC Bank USA | Cross-border mortgage specialist | Accepts Canadian credit; fastest process for RBC clients |
| TD Bank | TD Bank USA (eastern US focus) | Portfolio mortgage, Canadian income | TD-to-TD relationship reduces documentation burden |
| Scotiabank | Scotiabank-connected US lenders | Cross-border referral program | Strong Latin American and Caribbean network alongside Canada |
| BMO | BMO Harris Bank USA | Cross-border Canadian program | Good coverage in Midwest and Florida markets |
Foreign National Mortgage Programs (US-Only Lenders)
For Canadians who are not clients of the major Canadian banks with US operations, or who are buying in markets where those banks have limited presence, US-based foreign national mortgage programs are available:
(1) Down payment: 25–30% typically required vs 20% for US residents. (2) Documentation: Canadian NOAs (Notice of Assessment) from CRA, T4 slips, employer letters, or business financials accepted in lieu of US tax returns. (3) Credit: no US credit history required; international credit report or reference letter from Canadian bank accepted. (4) Rate premium: typically 0.5–1% above comparable US-citizen rates.
What Canadian Income Documents US Lenders Accept
| Income Type | Canadian Document | US Equivalent |
|---|---|---|
| Employed | T4 slip + CRA Notice of Assessment | W-2 + tax return |
| Self-employed | T1 General + business financials | Schedule C + business returns |
| Corporate income | Corporate T2 + dividend documentation | K-1 + corporate returns |
| Rental income | T776 Statement of Real Property | Schedule E |
| Pension/RRSP income | T4A statement | 1099-R |
The 183-Day Substantial Presence Rule and Mortgage Impact
Canadians who spend 183 or more days per year in the US may qualify as US tax residents under the substantial presence test. This affects mortgage qualification (US-resident programs available), FIRPTA withholding (may be reduced or eliminated), and worldwide income reporting obligations. Most Canadian snowbirds who stay the full allowed 182 days do not trigger this. But those who stay longer — particularly in multiple consecutive years — should confirm their tax residency status with a US-Canada cross-border tax specialist.
Ryan Brown, Principal Broker & CEO — Own Luxury Homes®
“The question I get most from Canadian buyers is: “Can I just use my Canadian bank?” The answer is yes, if you bank with RBC, TD, Scotiabank, or BMO and you’re buying in a market they serve. That is the fastest path. For everyone else, foreign national programs work fine but you should expect 25% down and a slightly higher rate. Neither is a dealbreaker at the price points our buyers operate at.”
Own Luxury Homes® — Canadian buyer specialists with cross-border mortgage lender connections in every major US market. International Buyer Verification Standard™. Contact us now ›
"The introduction Own Luxury Homes® makes is to a specialist with documented closing history in your specific market — not the county, not the metro, the submarket you're actually selling or buying in. That's the standard we verify before your name goes anywhere."
— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)