The first step in any mortgage approval process is to find out information
about the people purchasing, the property details of what you want to buy, how
much you want to spend or have offered already, and when it all needs to come together!
For much more in depth detail about international mortgages, please contact us via this form, or
by phone at 780-474-7900. We will be happy to discuss all your options with you, including what is
involved in getting a mortgage on a foreign property, as well what you can qualify for.
The following outlines the basic steps and documentation requirements
for obtaining foreign mortgages:
Step 1: The Application
We will ask you about your personal information, details about the property,
and obtain your credit bureau report. Contact us or fill out this secure, online mortgage application.
Step 2: Approval
Based on the information given, we will submit the application to the appropriate lender and ask for a `conditional mortgage approval`.
Step 3: Supporting Documentation
The lender will verify that the information given is accurate. You may be required to obtain a letter of employment, income tax forms, etc. In addition, an appraisal of the property to be purchased will be done. For US or Caribbean lending, other documentation, like your passport, will also be required. Below is a partial list of required documentation:
Step 4: Funding
Once all the conditions on the mortgage approval have been satisfied, the lender will instruct
your property lawyer to pay the seller and release the keys - to you! Canadian properties
generally require 1-1/2 months for this process to complete; US and Caribbean properties
take longer.
Please allow 1 ½ - 3 months.
Foreign property lending is a very exacting process. We are happy to explain the ins and outs
and get you started on owning your own investment or holiday real estate.