How to Find Your Loan

Most Canadians who buy Arizona homes pay all cash. Many, however, will finance part of the purchase.

The requirements are constantly changing. These were the requirements for one loan available for foreign nationals to purchase Arizona real estate.  This will give you a rough idea of the paperwork involved in getting a loan to buy an Arizona home.

Foreign National Requirements For Arizona Loans

  1. International credit report – It is ordered here in Arizona.

    2. If the lender needs to build a credit history, the lender may require a 12-month history for 3 trade lines which are credit cards, mortgages, car payments, or other charge accounts. Cost is $40 per bureau, and takes 1-3 days for Canadians and 10-15 days for buyers from other countries.

  2. Copies of passport and visa
  3. Last two pay checks
  4. Bank statements for the last 2 months
  5. Assets – most recent quarterly statements
  6. Last two years tax returns.

    7. If self employed, the lender may need the business tax returns and a letter from an accountant stating number of years in business.

  7. Verification of 2 years employment history in the same line of work
  8. Need to put X% down.  The minimum down payment changes frequently.
  9. Need to set up American bank account for transfer of money.

For more information contact;

Next: How to find your Arizona Realtor

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