For Canadians who want to bottom pick properties in the U.S., there’s financing available in much of the sunbelt if you have a 30% downpayment. You’ll have to prove income but there is no credit check.
We’re hearing of variable rates near 4.8% for 30-year terms, with no prepayment penalties. Closing costs range widely depending on the state, but can be anywhere from $1500 to $3000 or more. Plus you can expect up to 2-3% in broker and lender fees.
Other details may apply as well (like minimum loan amounts). Moreover, don’t forget that currency risk and tax-related issues can arise with cross-border home shopping. If you’re interested in buying down there, find a good mortgage planner to explain the whole financing process in detail.