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Old 02-19-2010, 09:48 AM
 
1 posts, read 760 times
Reputation: 10
Hi Maxfacs
i have been following your post since I am also a Canadian that is looking on relocating to the Bethesda/Maryland Area where my companys corp office is located. Just wondering how are you finding getting a mortgage down thier? we will also keep our house here in Alberta and rent out but we havent decided yet if we want to buy or rent since I could be relocated again within 3 years. The one thing we are not sure is what challenges thier are since we do not have any established credit in the USA will the bank take into account our credit scores here in Canada? Not sure if you could share any experince on how you are doing it.
Thanks in Advance
Astro
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Old 02-19-2010, 11:45 AM
 
44 posts, read 79,213 times
Reputation: 12
Quote:
Originally Posted by Astro1 View Post
Hi Maxfacs
i have been following your post since I am also a Canadian that is looking on relocating to the Bethesda/Maryland Area where my companys corp office is located. Just wondering how are you finding getting a mortgage down thier? we will also keep our house here in Alberta and rent out but we havent decided yet if we want to buy or rent since I could be relocated again within 3 years. The one thing we are not sure is what challenges thier are since we do not have any established credit in the USA will the bank take into account our credit scores here in Canada? Not sure if you could share any experince on how you are doing it.
Thanks in Advance
Astro

Although mrtg rates are low, lenders tend to use a powrful microscope in approving mrtg- with large down payment shouldn't be a problem. Some lenders do consider Canadian credits I have heard...You also have to look into buying vs renting in your situation-- with down payment+ closing cost which is 3- 4.5% of price after 3 years if you move out! (I could be wrong)
I suggest you discuss with an expert in MD and get more info. We will do that when we visit in March.
Good luck!
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Old 03-07-2013, 08:33 AM
 
9 posts, read 3,644 times
Reputation: 14
Default Canadian credit

If your credit is good in Canada you should be fine. Canadian banks did not have a subprime loan problem as they are much better regulated than American banks with much stricter credit rules. American banks are well aware of this. Canadian banks are doing well compared to ours!
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Old 03-10-2013, 04:14 PM
 
1,456 posts, read 755,656 times
Reputation: 1152
Just wondering if you have priced a house in Bethesda. You will be shocked. Even thought it's a good time to buy if there is even a 50/50 shot that you will move again I'd really not recommend putting that much down, then having to try to sell the home (and pay a realtor). If you are thinking of moving I'd suggest pricing homes in the surrounding areas such as Rockville.
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