Canadian investor information for
buying homes or condos in Florida
Investors from Canada are coming to Naples, Florida
and buying homes and condos in this buyers market.
If from Canada, what you can expect when buying property here in
a side by side comparsion.
- 5-10 Days Total to Close
- Rate Locked at time of First Quote
- Closing Costs 0 - 1% of Purchase Price
- Land Transfer Taxes: (CSD)
- Up to $55,000 = .50%
- $55,000 to $250,000 = 1.0%
- $250,000 to $400,000 = 1.5%
- Pre-Payment Penalty during CLOSED
- No Options for fixed
rates on 15 or 30 year term & amortization.
- Variable Rate Mortgages (A.R.M.'s) may
be converted to fixed rate.
- 'Simple' Documentation Submission Requirements.
- No Provincial taxes nor fees
- Mortgages Are:
- 3 - 5 Weeks Total to
- Rate Locked at disretion of Borrower after contract/loan
application is signed.
- Closing Costs 2 - 3% of Purchase Price.
- Documents Stamps (County)
- Intangibles Taxes (State)
- No Pre-Payment Penalty ever on RBC
- Options available for fixed rates on 15 or 30 year term
- A.R.M.'s (V.R.M.) cannot be converted
into fixed rate.
- More Expansive Documentation Submission Requirements.
- No tax deduction(s) for mortagage interest paid by Canadians
on Florida property.*
- Mortgages Are Not:
- Add-ons are permitted
Read these other informative articles
for Canadian buyers:
For Getting A U.S. Mortgage.
Canadians getting a mortgage in Florida...what to expect.
for Naples Real Estate Now
RUTH BETHEM, ABR, CRS, GRI, Realtor®
Downing-Frye Realty, Inc.
3411 Tamiami Tr. N.
Naples, Florida 34103
Phone: 239-777-7007 or Toll Free 877-777-7545
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to change without notice and are for general information only.
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