Canadian getting small mortgage

I'm a Canadian and I have a mortgage...three actually.

Bank of Nova Scotia is a lender on island, but not sure if they originate. A broker could tell you - check with First Liberty Mortgage, they are great.

Disclaimer Scotia bank is being sued right now for not delivering on force-place insurance, with some hefty allegations. Shouldn't be an issue if you maintain your own insurance (as required). Do your research.

I have two mortgages with ScotiaBank. I don't recommend them though.

They are not lending to Canadians anymore

They are not lending to Canadians anymore

I find that hard to believe. If you're a Canadian with permanent resident status, they'll lend to you.

I don’t know what to tell you. Both my husband and I are Americans, I am a duel citizen We went to Scotia bank when we were in St.Croix and talked to the Mortgage person there and were told that they no longer do mortgages based on your Canadian credit. We have great credit here in Canada, but our credit in the US is nul as we have lived and worked here in Canada for the last 30 years. We have also tried United Fidelity and they also can not do it. So we are so confused as to who does mortgages for Canadians.

You need to establish a US credit history - then you get a mortgage.

From Experian website

Talk with your existing creditors. Some may operate in both the U.S. and Canada and might be able to transfer your current Canadian accounts to US accounts, helping you establish a new credit history more quickly.

I don’t know what to tell you. Both my husband and I are Americans, I am a duel citizen We went to Scotia bank when we were in St.Croix and talked to the Mortgage person there and were told that they no longer do mortgages based on your Canadian credit. We have great credit here in Canada, but our credit in the US is nul as we have lived and worked here in Canada for the last 30 years. We have also tried United Fidelity and they also can not do it. So we are so confused as to who does mortgages for Canadians.

We went to Scotia bank when we were in St.Croix and talked to the Mortgage person there and were told that they no longer do mortgages based on your Canadian credit.

That's a lot different than saying. "They are not lending to Canadians anymore."

Of course you need a US credit rating. I needed a US credit rating 15 years ago so nothing has changed. If you want a US credit rating, get a credit card from one of the companies that offers credit cards for that purpose, like First Premier. My first US credit card had a $500 limit. I was able to qualify for a mortgage with ScotiaBank in the VI within two years of getting it. If you want the prize, you have to jump through the hoops.

But our question was who lends to Canadians , there was a time when you could use your Canadian credit to obtain mortgages in the US. We will build up are US credit rating and I do know how to do that.

You said you are US citizens. So it's not a matter of citizenship but of the two credit systems not talking to each other. They don't. Experian nor Trans American share reporting between the US and Canada. Go online and read.

Your first option - establish US credit then get a traditional US mortgage. RBC has a webpage on how it might help you do that while still in Canada. Better yet, talk to your Canadian banker. There is a long border between the US and Canada so this is not a unique problem.

Another option would be to ask the seller of a property to carry a personal balloon mortgage until your credit is established - then replace it with a traditional mortgage in a year or two once you have US credit established.

Alternatively, see if there are properties you can buy out right with cash without having to get a mortgage.

There are realtors on STX that can help you negotiate alternatives.

But our question was who lends to Canadians , there was a time when you could use your Canadian credit to obtain mortgages in the US. We will build up are US credit rating and I do know how to do that.

But our question was who lends to Canadians , there was a time when you could use your Canadian credit to obtain mortgages in the US. We will build up are US credit rating and I do know how to do that.

Every US lending institution lends to Canadians...if you have a valid US Visa, Permanent Resident Card or Naturalization Certificate. And...a decent credit rating.