Big thanks to Karen at PNC mortgage for providing this update on their new program for Canadian buyers. Very competitive!
We spoke last week regarding Canadian buyers and what PNC Mortgage can offer. Below is a brief overview for you, please just have the client reach out to me and I will walk them through the process.
The MOST important thing is that we require them to have an established PNC account at time of application for the mortgage and ALL of our account openings must be face to face. As such, it will be important for them to establish an account while they are in Florida looking at properties.
Canadian Product Features:
Must be a second home
Max loan to value of 70%
Fixed rate loans from 15 to 30 Years
Six Month Reserves of PITIA (Principal, Interest, Taxes, Insurance) must be verified with assets- we do not hold these funds - just have to verify their existance
Click here to download the Canadian Buyer Survival Guide Here
I hope this helps.
I am also attaching a flyer for your review and you may email this to your clients if you wish. I also offer portfolio jumbo loans, all conventional, FNMA HomePath, FHA and VA.
Mortgage Loan Officer NMLS# 572256
PNC Mortgage, a Division of PNC Bank, NA
PNC Financial Services Group
9430 Bonita Beach Road (XM-YMBJ-01-1)
Bonita Springs FL 34135