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Generally speaking, you will need to put 25-30% down and qualify with paystubs/tax returns/bank statements. Lenders include RBC , Wachovia and Downey Savings

The easiest and cheapest way to finance your place in the sun is to borrow the money in Canada. You can't get a Canadian mortgage for a property in another country, but if you already own a home in Canada with enough equity, you can refinance your home here and use the money for a home in Florida.

Mortgage Solutions from RBC Bank (USA)

We have an experienced team of mortgage consultants dedicated to helping you obtain the right financing to meet your needs. Plus, we have streamlined the process to make it easier and faster for you to obtain a mortgage for a U.S. property.

RBC Bank (USA) offers the Non-Recourse Mortgage, a unique lending solution that could provide U.S. estate tax benefits on mortgage loans secured by real estate located in the U.S. This product is designed especially for you—a non-U.S. citizen purchasing or refinancing property in the U.S.

Whether you are purchasing a new home in the U.S. or refinancing your current home there, when you apply for a mortgage as an RBC Access USA™ client, we'll use your credit rating in Canada, making the process of approvals and establishing your credit history in the U.S. much easier .We offer a variety of mortgage and home equity solutions, including fixed and adjustable rate mortgage loans for vacation homes and primary residences.

To find out more about U.S. Banking products and services, ask a personal banker at any RBC Royal Bank branch or call

 1-800-ROYAL® 5-3 (1-800-769-2553).

I invite you to contact me as I'd be happy to assist you with any Florida transaction. Together with our partners in Florida we will do your buying process easy and without any stress for you


Ontario's real estate market is strong. But you can find bargains galore in Florida, the U.S. state with the highest rate of foreclosures. Property values in Florida have dropped about 50 per cent since the market there peaked in December 2006, and looks like finally have reached the bottom line. Property prices in Miami have fallen by almost half (47 percent) since the real estate bubble peaked in 2006, according to Standard & Poor's Case-Shiller 20-City Home Price index.

 Bill Richardson, president of the Realtors Association of the Palm Beaches, said there is good news: Homes are selling, eating up a bloated inventory that has continued to keep prices low. "It would be one thing if it was like back in 2008, when prices were dropping like crazy and there were no buyers," Richardson said. "The activity is pretty strong right now because the prices are so good." "The international buyers continue to fuel market strengthening, we continue to observe positive signs," said association president Oliver Ruiz. The Florida Realtors report showed home sales rose 10 percent in Palm Beach County last year compared with 2010. Statewide, sales increased 5 percent.

Foreign tourists who for years have crowded Florida’s shopping malls to buy clothes and electronics, are now flocking to real estate offices to snatch up apartments and homes at bargain-basement prices.The investors, mainly from Europe,Latin America and Canada are jostling over apartments in Miami, and in less exclusive areas to the north. "The buying opportunities are maybe the best ever. Who knows if we'll see prices again like today's in Miami Beach," Keys Real Estate agent Michelle Iglesias told AFP.

Beatriz Lamanda, from Venezuela, bought two apartments north of Miami Beach for 80,000 dollars. "I'd rather put my money in real estate than leave it in the bank. In a few years I'll make a nice bundle because the prices are going to go up, no question," she told AFP.

In the "Icon," a three-building apartment complex by French designer Philippe Stark in Brickell, Miami's newest financial district, apartments are selling for 250,000 dollars, down from 370,000 two years ago. "We've sold 350 units in the last few months. Most of the buyers are international, from countries like Venezuela, Argentina, Brazil and also Colombia, Italy, Mexico and Canada," Fortune International's Alejandra Castillo told AFP.

 Foreclosed properties owned by banks in the area go for less than 100,000 dollars, and two-bedroom, two-bathroom apartments for as little as 130,000. Daniel Lemin came from France on a three-day business trip and promptly sought a real estate broker to look over some apartments. "It's a great time for investing, and while I wait for prices to go up, I've got an apartment in Miami I can use or rent out," he added. 

There are several Non resident alien lenders in the US for Canadian (and other) citizens.