Snowbird Mortgages

Spend Your Winters in the U.S.

Escape Canada’s cold winters by investing in a Florida property, where warm weather and diverse attractions await. We specialize in loan options for foreign nationals and Snowbirds, enabling you to own a US vacation home for up to six months a year—or even invest in rental properties for longer stays. Join thousands who split their time between Florida’s sunny winters and northern summers; owning your seasonal getaway is more attainable than ever.

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Essential Documents for a Canadian Snowbird Loan

If you’re planning to winter south of the border and are considering a Canadian Snowbird Loan, having the right documentation is crucial for a smooth application process. Preparing these essential documents in advance can help expedite your loan approval and ensure you meet the lender’s requirements. Below is a comprehensive list of the key documents you’ll typically need:

⭐ Valid Passport: A current, valid passport is required (Canadian or another recognized nationality).

⭐ Proof of Current Address: Documentation that confirms your current residence, such as utility bills or lease agreements.

⭐ Income Documentation: Detailed records of your income, which may include recent pay stubs, tax returns, or employment letters.

⭐ Bank Statements and Reference Letters: Recent bank statements along with reference letters from your financial institution to verify your banking history.

⭐ Income Verification Letter: A formal letter from your employer or financial advisor confirming your income details.

⭐ Bank Statement for Down Payment Source: A separate bank statement showing the funds available for your down payment.

⭐ Proof of Reserves: Evidence of 6 to 12 months of reserves to demonstrate that you can continue making payments, such as additional bank statements or investment account summaries.

Becoming a Snowbird FAQs

How Long Can I Spend in the US as a Snowbird?

Canadians can stay in the US for a maximum of 6 months in a calendar year.

Can I retire in the US as a Canadian?

NO, You cannot fully retire in the US due to the maximum 6 month allowance under the B2 visa. The maximum amount of time you can spend in the US is 6 months per calendar year.

Will I need a US bank account?

Using a US-based lender to obtain financing means you will most likely be required to have a US bank account for the transfer of funds and mortgage payments. Having a US bank account can also make it easier to pay for expenses related to your home purchase, such as closing costs and property taxes.

Do I need a Visa?

As a Canadian making passive rental income in the USA, you do not need a visa. However, if you plan to stay in the US long-term and manage many rentals, you may be eligible for an E-2 treaty investor visa. An E-2 would allow you to manage a US business. This means your family can also work and study in the US. There are many benefits to having a visa that allows you to live in the US with less restrictions, and you may want to consider a consultation with an immigration lawyer to see what your options are.

Do I need an ITIN to buy property in the USA?

In general, if you are a non-resident alien selling, you will likely need to apply for an Individual Taxpayer Identification Number (ITIN) when you sell your property to pay any necessary taxes. You do not require an ITIN to buy, but you will when the property is sold. We recommend consulting with a tax professional who can provide guidance specific to your situation.